Monday, March 16, 2009

Preliminary Estimates for Fiscal Q2 2009

3mo ending Mar-2009:
FY09Q2 Revenue($B) EPS($)
------ ----------- ------
Apple guidance 7.80 0.95
Analysts cons. 7.91 1.07
My estimate 8.45 1.29
My non-GAAP e. 8.90 1.47

Product Units(M)
------- --------
Mac 2.35
iPhone 3.10
iPod 9.50

12mo ending Sep-2009:
FY09 Revenue($B) EPS($)
---- ----------- ------
Analysts cons. 35.12 5.14
My estimate 37.32 5.97
My non-gaap e. 41.82 7.93

Stock valuation:
Window 12mo starting EPS(e) PPS(25x)
------ ------------- ------ --------
Trailing Apr-08 5.51 138
Fair value Apr-09 6.84 171
1-year target Jan-10 8.53 213
Analysts mean target 124

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