Following the close of trading in New York on Tuesday Apple will release June quarter results. While the expectations of analysts vary, Apple will report record or near-record revenue and earnings. The company will also report more than $3 per share has been added to its coffers.
Apple's share price has been under pressure due to overall market conditions, media preoccupation with the iPhone antenna non-issue and in Monday trading was pressured by the statement of CEO Steve Jobs during Friday's special event about the number of iPhone 4 handsets sold.
None of these factors should have more than a short-term impact on the share price. The big question Tuesday evening is whether or not the June quarter results and the corresponding forward guidance from management will provide enough of a catalyst to push the share price above $300 over the next few weeks. I reiterate my expectation AAPL will cross over $400 per share by May of next year.
I'll be back later this week with an early look at September quarter expectations for Apple.
Robert Paul Leitao
Very good prediction(s), DT....well done!!
ReplyDelete