Mac Sales propel Apple Q2 to Exceed Expectations

From Macworld UK
Apple will reveal its second quarter financial results this Wednesday, with a pair of analysts firms raising their estimates on the company's performance with the expectation of strong Mac sales.

Goldman Sachs analyst David Bailey last week raised his target price on Apple from $175 to $185. The analyst predicts Q2 unit sales of 2.1 million Macs and 1.4 million iPhones. With heightened expectation of new iPhone models set to ship this June, the analyst also expects Apple will sell 11 million iPhones in FY 2008.

Caris & Co. analyst Shebly Seyrafi also believes strong Mac sales and improved profit margins should drive Apple to exceed its previous guidance for the quarter, offering an Above Average rating and $170 price target on the stock. He expects Apple's Q2 revenue to reach $7.04 billion, up from $6.93 billion in the year ago quarter.

Apple stock currently stands at $161.33 per share, up twenty-nine cents on pre-market trading.

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