While everybody is waiting for Apple to announce their Q1 earnings, analysts are already placing their bets - with the latest educated guess coming from Goldman Sachs's Bill Shope.
He reiterates the "buy" rating for Apple and raises the price target from $700 to $750. He also raised his sales estimates for Apple's main product ranges.
Bill Shope suggested that Apple has sold more than 28.2 million iPhones worldwide, and is now convinced that Apple will make the announcement of having sold 32.1 million iPhones within the first quarter.
Its distribution, particularly in China, could have pushed the iPhone sales mark around the total of 34 million units. The enthusiasm in the Chinese market for iPhones, despite iPhone 4S scarcity, could have boosted Apple's sales.
When it comes to iPads, Shope has raised the sales estimate to 12.5 million units from 10.1 million for Q2. The vulnerability in Apple's earnings report will be Macs' sales performance.
The analyst expects that Apple has sold about 4.3 million Mac units. "The deceleration in Mac units is likely to rebound quickly in our view, however, as Apple refreshes both desktops and notebooks over the next several months," he states.
Source: Barrons (opens in new tab)