MacNN | Morgan Stanley cuts Apple price target, iPhone and Mac forecasts
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Morgan Stanley cuts Apple price target, iPhone and Mac forecasts
Thursday, April 11, 2013 @ 12:04pm

Morgan Stanley analyst Katy Huberty has cut her price target for Apple stock from $630 to $600, writes Fortune. The change is based on "supply chain data points," which have led her to slash her predicted iPhone shipments for the March quarter from 37 million units to 33 million. Mac units have likewise been adjusted downward from 4.359 million to 4.218, although iPad estimates are up from 19 million to 21 million.



Forecast gross margin has been scaled back from 38.3 percent to 38.1. Huberty is now calling for $41.379 billion in revenue versus $43.067 billion, and $9.59 in earnings per share, below a previous $10.15 target. The analyst does expect Apple to double its annual cash return to investors to $25-30 billion, though, using a combination of buybacks and increasing dividend yield from 2.5 percent to over 3. She also predicts that the company will improve its current Internet services such as Maps and iCloud, and launch new ones, such as streaming music and possibly a mobile payment system. New iPhones -- an updated flagship and a lower-cost model -- are expected sometime after June, as is a new iPad. Huberty anticipates carrier deals with China Mobile and NTT DoCoMo in the second half of 2013, or else in 2014.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • Report: Apple could debut payments system, e-wallet with iPhone 6 - 7:00 PM EST
  • Gameloft early access contest for Modern Combat 5 results in piracy - 6:50 PM EST
  • Facebook hits $2.9 billion in second quarter revenues, up 61 percent - 5:40 PM EST
  • AT&T misses revenue guidance, blames customer transition to AT&T Next - 4:56 PM EST
  • FCC reminds broadband providers that they can't lie to customers - 4:40 PM EST
  • Procreate 2.1 adds ColorDrop, reference layers, other new features - 4:11 PM EST
  • Sources call for Yosemite in late Oct., Retina MacBook, Mac with 4K - 2:59 PM EST
  • Apple 8-K filing shows Apple spent $1.6B on June-quarter R&D - 1:00 PM EST
  • Apple 'tentatively' planning mid-September event for iPhone 6, iOS 8 - 12:10 PM EST
  • Sony puts $345M towards boosting mobile image sensor production - 11:12 AM EST
  • First public beta of OS X Yosemite to go live on July 24 [U] - 9:52 AM EST
  • Apple document attempts to explain alleged backdoors in iOS - 9:22 AM EST
  • Cook: Apple has made 30 acquisitions thus far in fiscal 2014 - 4:05 AM EST
  • Mid-2011 MacBook Air EFI update causing crashes, other issues - 2:22 AM EST
  • Hands on: Power Support Air Jacket for iPhone 5s, iPad Air - 1:48 AM EST
  • Cook: iPhone 5c, not 5s, was fastest-growing phone in June quarter - 1:00 AM EST
  • Review: D-Link Wi-Fi Smart Plug - 1:00 AM EST

    Today's iPodNN Stories:
  • Technology difference, experience led to Destiny platform separation - 8:10 PM EST
  • Microsoft updates Skype for Android, reveals Amazon Fire Phone app - 6:40 PM EST
  • Google to battle Rockstar Consortium after judge denies dismissal - 3:49 PM EST
  • Sony Xperia Z3 could have similar internals to Z2, faster processor - 2:05 PM EST
  • Amazon bolsters small Prime Music catalog with thousands of tracks - 12:02 PM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.