Gene Munster: Apple to Sell 5.3 Million Macs During Holidays
According to the latest projections from Piper Jaffray analyst Gene Munster, Apple is expected to set a new record for Mac sales during the forthcoming holiday shopping season.
Although the iPhone 4S will contribute greatly to the sales success to be noted in Apple's next earnings report, the Mac can't be underestimated either. In fact, Mac sales may prove the biggest revenue generator for Apple during the next few months. Let's not forget that the last quarter also saw record Mac sales of 4.89 million units. And all signs point to Apple blowing those figures out of the water by early 2012.
Based on the latest sales data available, Mac sales are already up 19 percent year-over-year for the month of October 2011. For the December quarter, Munster believes Apple will sell a staggering sum of Macs - somewhere between 5.1 million and 5.3 million units. If those numbers prove accurate, Apple will see year-over-year growth of approximately 28%.
Following Apple's last earnings report, Wall Street analysts predicted that Apple would report sales of 5.2 million Macs for the holiday quarter - slightly below Munster's prediction. Given Munster's optimism, it's easy to understand why Piper Jaffray maintains an "overweight" rating for AAPL stock and a very rosy price target of $607. Shares of AAPL are currently $379.95.
Source: Piper Jaffray