Screen supplies fuel shipment estimates

Kaufman Bros. analyst Shaw Wu has raised his target for Apple stock from $350 to $374, citing the potential of "significant upside" to iPad shipments. Sources are said to indicate better screen supplies, eliminating a significant production bottleneck. Wu is now calling for as many as 5.7 million iPads to ship in the September quarter, up from a much lower prediction of 3.6 million.

The analyst moreover suggests that the iPad is having "slight cannibalistic impact" on MacBook sales, to the extent that a Mac forecast for the quarter has been reduced from 3.9 million to 3.8. iPhone and iPod estimates are being kept at 11.5 million and 9.5 million, respectively, although Wu warns that his sources say tight small-screen availability could limit the iPhone's potential. iPods are being buoyed by the release of new Touches, Nanos and Shuffles.

In terms of strict financials, Wu is anticipating $19.3 billion in revenue with $4.12 in EPS for the September period; the figures are up from earlier estimates of $18 billion and $3.74. Apple could conceivably hit $64.1 billion and $14.64 for all of FY2010, which are numbers elevated from previous forecasts of $62.9 billion and $14.25. An adjusted FY2011 outlook sits at $80 billion and $18.

By Electronista Staff