Analysts bullish ahead of Apple's June results

Posted on 18 Jul 2006 at 10:48

Analysts are bullish ahead of Apple's June quarter financial results announcement tomorrow, with both American Technology Research's Shaw Wu and Piper Jaffray's Gene Munster telling investors that they expect the company to meet or even exceed expectations.

Apple's share price gained 3.4 per cent following the analysts' comments, although Wu was careful to guard against too much optimism, reiterating his belief that revenues for the next, September quarter will be hit by delays to new iPod models.

'We believe this stance is no longer a surprise now that our then non-consensus view that new Nanos will likely ship in October, or late September at the earliest, has become more widely accepted,' he said.

Munster too warned Wall Street not to get over-excited, predicting sales for the June quarter of 7.7 to 8.2 million iPods, below the Wall Street consensus estimate of 8.3 million, and 1.23 million Macs, compared to the consensus of 1.25 million.

Author: Simon Aughton

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