October 3, 2008, 3:49 pm Apple: Barclays Cuts Ests, Target; But Still Bullish Barclays Capital analyst Ben Reitzes today trimmed his EPS estimates and target price on Apple (AAPL). He now expects EPS for the September 2008 fiscal year of $5.21, down from $5.23; for FY â09 he sees $5.65, down from $6.05. For FY Q4, he sees $1.11, down from $1.12 previously. Reitzes lowered his target price for the stock to $135, from $180. He also lowered his Mac and iPod unit forecasts, âgiven checks that indicate slower sales by the day as well as negative checks within the supply chain and prospects for more subdued demand for the upcoming holiday buying season.â He now sees Mac unit sales in the September quarter of 2.76 million, down from 2.96 million; but he increased his estimate on iPhone units to 5 million from 3.8 million. âGiven obvious economic weakness and negative checks in the supply chain, we believe it is prudent to cut our estimates for AAPL,â he writes. But he adds that he is maintaining an Overweight rating, asserting that the valuation is âcompellingâ given its $25 a share in vcash and the prospects for over $9 a share in free cash flow in FY 2009. http://blogs.barrons.com/techtrader...ts-target-but-still-bullish/?mod=yahoobarrons
Apple Cut in Half. Check it out.. http://stocktradinglessons.blogspot.com/2008/10/apples-on-sale.html