Despite the fact that Apple may not do as well as previously thought, UBS and Kaufman Bros. analysts maintain that the company can still perform above guidance for the first fiscal quarter.
MacNN reports that Kaufman Bros., who had once estimated revenue to hit the $10 billion mark, are now expecting $9.76 billion with an EPS ahead of Apple’s guidance of $1.06 to $1.35. By holding back on price reductions and making use of cheap component pricing, Kaufman Bros. is expecting high margins on Apple’s hardware at around 31.7 percent, where Apple has typically predicted between 30 and 31 percent. Shipments are thought to be divided between 2.55 million Macs, 19 million iPods and 5.5 million iPhones.
UBS analyst Maynard Um shares a corresponding judgement, as he predicts a more general revenue estimate between $9 and $10 billion and an EPS on the high end of Apple’s guidance. UBS maintains a $110 price target, under Kaufaman’s $120 estimate.
Overall, Kaufman is said to be modeling a revenue estimate of $7.8 billion for the March quarter, with an EPS of $1.08, below the consensus levels of $8.3 billion and $1.13. Yet, the “situation is said to be more optimistic for 2009 as a whole, as while FY09 revenue forecasts are being dropped from $35.2 to $34.9 billion, EPS is slated to remain at $5.05.”
