Apple May Have Trouble Hitting Revenue Targets For Q2 and Q3, According to Analyst Note

Andy Hargreaves, an analyst at Pacific Crest, believes Apple

will miss both its second- and third-quarter revenue estimates. Specifically, he sees Q2 revs at $41.1B, versus a consensus of $42.8B and 3Q revs at $33.5B, versus a consensus of $40B. Hargreaves thinks Apple will miss because of soft iPad and iPhone sales and he has little insight to any product refreshes, specifications, or release times. AAPL is just off the lows of the day, currently down ~2 percent.