After reviewing AAPL's March quarter performance I've updated my 12-month price target to include a price range between $405 per share and $440 per share. I have an interim anticipated trading range of between $300 per share and $325 per share by the end of July 2010.
For the first six months of fiscal year 2010 Apple has realized revenue growth of about 39% over the prior-year period and earnings per share growth of about 63% during the same period. I expect robust rates of revenue and earnings per share growth to continue through the June quarter.
Mitigating higher rates of revenue and earnings growth in the June quarter is the delay of the international debut of the iPad until late-May 2010.
Robert Paul Leitao
Robert Paul Leitao
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