Munster Expects Great Apple Quarter Earnings

07.16.07 - 12:49pm

Piper Jaffray analyst Gene Munster is maintaining his “Outperform” rating and a $160 target price on Apple’s stock as he predicts that Apple will report revenue above Wall Street’s US $5.3 billion estimate for June quarterly earnings.

Regarding the iPhone he said, “We have modeled for 200,000 iPhone shipments in the June quarter and the Street is modeled at about 330,000, but we believe Apple may have sold as many as 500,000 in the first weekend.”

He also says that Apple will most likely have sold more than 1.6 million Macs for the quarter and 10 million iPods beating Wall Street’s expectations for both.

Apple’s stock is currently trading at $138.02.

Category: apple | Tags: apple, iPhone, ipods, macs, munster, piper_jaffray, quarterly_earnings, target_price, wall_street