iPhone, Mac Demand Stronger Than Expected, Says Piper

Piper Jaffray’s Gene Munster and team spent 25 hours in Apple (AAPL) retail stores last week counting sales. In a note today, he says he thinks demand for Apple’s gadgets is above Wall Street’s consensus. Apple reports March quarter results next week.

  • Munster expects iPhone shipments between 4.4 million (flat q/q) to 3.7 million (down 15% q/q); better than the 3.3 million Street consensus. (We assume he’ll fine-tune this before next week.)
  • Munster expects Mac units to be “in-line or slightly above” his estimate of 2.2 million, versus the Street at 2.1 million. That would suggest a good March, after weak January and February.

He also thinks his iPod shipment prediction — around 10 million units, fuelled by the new iPod shuffle launch — is plausible. Munster currently expects Apple to post $0.98 EPS on $7.93 billion of sales. That’s lower than the Street’s $1.08 EPS consensus, but in line with its $7.93 billion sales prediction.

We’ll publish a detailed Apple March quarter earnings preview next week, and will cover Apple’s report LIVE next Wednesday afternoon. Join us.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.