Apple stock drops despite jump in Q3 profit

Shares of Apple Inc. fell sharply as investors focused more on the company's cautious guidance for the current quarter than on the blockbuster Macintosh and iPod sales during the previous three-month period.

Pacific Crest ups AAPL targets

Section: Apple, Apple News, iPhone + Communications, iPhone Andy Hargreaves, an Analyst from Pacific Crest, has high hopes for AAPL. This morning, he raised his estimate for AAPL $10, from $225 to $235. Also of note was his AAPL EPS estimate for Fiscal September ‘09, which he brought up to $6.55 from $6.20.  With many analysts and firms upping the estimates and predictions, Apple has some big expectations to fulfill. Most of these recent increases have been attributed the the iPhone 3G. Many groups (including Pac Crest) predict iPhone sales in huge excess of Apple’s goals, reaching as high as 500,000 units sold by the end of the week. Though AAPL has been hurting in the last few days (down more than a dollar in the last day alone), you can expect very sizable jumps come July 11th.  iPhones will be flying off the shelves, so now the question is whether Apple can keep up with demand. Hargreaves himself says he does not wish to increase his units sold prediction and stands firmly by his original prediction of 15.5 million by the end of 2008 (despite many predictions being significantly higher). Via [Barron’s] Full Story » | Written by Mark Rowland for Appletell. | Comment on this Article »

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