AAPL Launches iPhone OS 4.0; Estimates Raised
Analysts at Canaccord Adams reiterate their “buy” rating on Apple Inc (NASDAQ: AAPL), while raising their estimates for the company. The price target for AAPL is set to $300.
Apple has introduced its latest iPhone OS 4.0. While the new OS marks a significant improvement over the previous one, the move was “widely anticipated,” the analysts say. “We believe the iAd platform is innovative and could generate considerable revenue in coming years,” Canaccord Adams adds. AAPL has indicated that its sales for iPads and iPhones have been 450k and 50 million so far.
“Based on the new information and our channel checks, we are lowering our iPhone shipments estimate to 7.5 million (from 7.8), and tweaking our ASPs and gross margins on Macs and iPhones slightly higher,” the analysts mention.
Canaccord Adams has raised its GAAP EPS estimate for Q2/FY10 from $2.35 to $2.42.
