Gene Munster's Analysis
Piper Jaffray analyst Gene Munster tells Fast Money the only surprises in store for Wednesday – are good ones! “Apple’s performance in December not only saved the quarter – but may have propelled earnings beyond Wall Street projections,” he says.
Want the specifics? Munster’s got them. He tells Fast Money that 19 - 20 million iPods shipped during the quarter, beating the Street’s 18.6 million expectation; while 2.6 million iMacs shipped, in line with the Street’s 2.5 million expectation.
“We weren’t expecting these improvements,” adds Munster. “This is a nice surprise. We’re buyers going into the quarter.”
Barclays Capital analyst Ben Reitzes is almost as bullish on Apple. In a research note, Reitzes recently said, “We are not expecting top-line upside but we do believe Apple will get bottom line support from margins.” He likes the stock as a long-term growth story.
And on the other side of the coin, RBC is somewhat bearish. They downgraded Apple stock to Underperform from Sector Perform and lowered their target to $70 from $125.
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Trader disclosure: On Jan. 20th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (C), (BAC), (TM), (SDS); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AA), (AAPL), (BAC), (F), (EEM), (FXI), (TSO); Najarian Owns (MS), (PALM) ; Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (MS) Short Calls & Short Put Spread; Najarian Owns (NVLS) Calls; Najarian Owns (XME) Long Calls; Najarian Owns (IYR) Puts
Disclosures for Gene Munster: Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: (APPL), (AMZN), (BIDU), (EBAY), (FMCN), (GOOG), (GSIC), (IACI), (MCHX), (PRTS), (SINA), (SOHU), (SYMC), (VCLK), (WWWW), (YHOO)
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