Apple’s Recent Downturn In Stock Dismissed As Simply “Profit Taking”

Apple is planning to release their earning report for the first quarter of 2012 after the market closes tomorrow. The last few weeks have been a up and down roller coaster ride Apple shareholders, which saw an 11 percent drop accompanied with the companies single largest point day drop of $25.10.

Analyst Brian White with Topeka Capitol Markets doesn’t seem to be too concerned about the recent fluctuation of Apple’s stock. He sees the recent 11 percent drop of Apple stock as simply “profit taking” rather than any major concerns for Apple’s business.

White has predicted Q1 2012 sales of iPhone’s to be around 29.6 million with iPad sales of 11.58 million.

Chris Whitmore of Deutsche Bank has also made his predictions of Apple’s earning report. Whitmore believes that Apple will report sales of 26 million iPhone’s, 10 million iPad’s, and 4.5 million Macs, though he noted his iPhone number as conservative.

Whitmore also stated that he believes the demand for the iPhone 4s will be moderate this summer as consumers get ready for the New iPhone which is expected to be released this fall.

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