The Street scrambles to get its spreadsheets ready for Monday's earnings call
Bernstein's Toni Sacconaghi added 2.3 million units to his iPhone estimate on Friday. Piper Jaffray's Gene Munster doubled his iPad number. Hudson Square's Daniel Ernst raised his price target, from $300 per share to $500.
With Apple's (AAPL) products flying off the shelves and its shares setting new record highs every trading day in October (the stock closed Friday at $314.74, up $12.43 for the day), analysts who had let their spreadsheets get dusty over the quarter had a lot of catching up to do.
According to Thomson Financial, the Street's Q4 revenue consensus jumped $100 million in the space of a week, from $18.76 billion to $18.86 billion.
We've been doing our own, somewhat more detailed polling, comparing the estimates of a select group of Wall Street professionals with those of a small community of blogger-analysts who follow Apple for their own fun and profit and whose numbers, frankly, tend to be closer to the mark.
The estimates we've gathered are pasted below the fold.
Curiously, the two groups, which in recent quarters had been growing closer, at least in terms of their average estimates, seem to have drifted apart again.
Raises estimates, finding competitive offerings 'delayed, underwhelming or both.'
Stifel Nicolaus' Doug Reid raised his Apple (AAPL) price target modestly Thursday -- to $360 from $350 -- in a note to clients that poured praise on the company and scorn on its competitors. Specifically:
Reid sharply increased his estimate for iPad unit sales in Apple's fourth fiscal quarter to 5.4 million from 3.6 million, citing "robust demand" in the U.S. and Europe MOREPhilip Elmer-DeWitt - Sep 30, 2010 10:36 AM ET
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