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Citigroup and Lehman up Apple predictions

Sections: Apple Business, iPhone, iPhone/iPod touch/iPad

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CitigroupAfter the announcement of the 3G iPhone and subsequent price drop to $199, predictions for AAPL are looking up. Rich Gardner for Citigroup increased his predicted price point for AAPL to $287, up from $248.

“We remain aggressive buyers of Apple shares at current levels. Apple’s decision to move from a revenue share model to a traditional subsidy model for the 3G iPhone is a significant positive because Apple receives iPhone-related cash flow sooner.”

Gardner also increased his 2009 profits by $1.5 billion, bringing his original estimate of $7.4 billion up to a sizable $8.9 billion. He upped his 2010 profits as well, albeit by less, bringing his estimates up to $10.2 billion from $9.3 billion.

In more AAPL predictions news, the Lehman Group’s Ben Reitzes brought his prediction up $32, bringing it in at $243 from $202. Also included in the Lehman prediction was the thought that Apple will sell 27.3 million iPhones by the end of the 2009 fiscal year.

These predictions are only two of a slew of increased predictions, with Needham saying that the demand for iPhones will be quadrupled by the end of 2008, and analysts from CSLA Emerging Markets predicting a huge 18 million phones sold by the end of 2008.

Will Apple be able to meet these heightened demands? Will the analysts be right? For Steve’s sake, lets hope so.

Via [AppleInsider]

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  • Rick Prather

    "price drop to $199"

    What the heck?

    How can they drop to $199 when they haven't been over $200 since late December 2007?

  • Mark Rowland

    The new 3G iPhone will cost $199 for 8 GB. The old iPhone never went below $399 for 8 GB.

  • Rick Prather

    Sorry, since you were talking about stock prices in that paragraph I thought the $199 was referring to AAPL.