“We recommend owning shares of Apple AAPL into the June quarter based on the news flow turning progressively more positive in 2HCY11, including a huge spike in Sept. iPhone units, back to school, and anticipation of strong holiday iPad sales,” Piper Jaffray wrote in a report this morning.
“We expect 16m iPhones, a sequential decline ahead of new hardware in the Sept. quarter, when iPhone units will rebound to an estimated 21m. Apple announced 25m iPads on 6/6, suggesting 8m iPads in June. Mac and iPod will likely be in line with consensus based on two months of NPD data.”
Apple closed Wednesday at $358.02.
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