Apple: Credit Suisse Ups Estimates on Better Mac, iPhone Sales
Credit Suisse analyst Bill Shope this morning boosted his estimates for Apple (AAPL), asserting that demand for both Macs and iPhones held up better than he feared in the March quarter.
For the March quarter, he now sees revenue of $7.76 billion and profits of $1.09 a share; his previous forecast was for $7.44 billion and 97 cents. Shope notes that he is now closer to the consensus at $7.95 billion and $1.08. For the September 2009 fiscal year, he now sees $34.54 billion and $5.11 a share, up from $33.17 billion and $4.89. Again, he’s now closer to the Street at $35.28 billion and $5.19.