To: Cogito who wrote (137277 ) 7/9/2012 7:07:47 PM From: Sonki Respond to topeka upgrades the price target and lowers sales. Since appl went above 600, i have seen every dip being bot. Even when stock is overbot they keep buying it. i think funds are just looking pass the weak summer into the yr end. -sonki Topeka Capital Markets’s Brian White today reiterates a Buy rating on Apple ( AAPL ) shares and a $1,111 price target, while warning that June sales data for a basket of Taiwanese suppliers to the company’s personal computers were “well below historical seasonal trends.”Apple Monitor ,” as White terms the basket of companies, showed a 13% month-over-moth decline in sales in June , far worse than the average 1% uptick in the month over the course of the last seven years. For the suppliers in that basket, about 50% to 60% of sales come from Apple products, White estimates.iPhone . White also thinks some of the drop may have to do with a general decline in IT buying affecting sales of non-Apple products, which would in turn effect total revenue for the suppliers.We estimate June quarter sales for the Apple Monitor fell by 8% sequentially and well below the historical uptick of 15%. This performance is below our Apple sales projection of down 1% (Street has down 5%) for 3QFY12, but still above the Company’s outlook that calls for a 13% QoQ decline. Over the past five years, Apple has grown sales by 8% sequentially in the June quarter. Keep in mind that the percentage change in sales for the Apple Monitor will deviate from Apple’s sales performance, but should move in a similar direction.
