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[15.01.2007]
Apple Might Have Another Hit; New iPhone Taking Aim At $16 Bil Mobile Market
DEVELOPS DESKTOP/LAPTOP COMPUTERS, PERIPHERALS, NETWORK DEVICES, SOFTWARE AND THE IPOD DIGITAL MUSIC PLAYER.
842.1 M Shares99 Comp. Rating97 EPSRS 91 ROE 22%
+179% Ann. EPS Gro PE 42 Avg. D. Vol 31,876,600 Debt 0%
Last Qtr Eps +68% Prior Qtr +46% Last Qtr Sales +32%
13 Qtrs EPS 15%
Eps Due 1/18
R&D 3%
Acc/Dis B Sup/Demand 97
8% rebound from 10-week line (87.44); last buy pt was 93.26.
Apple Chief Executive Steve Jobs last week claimed his company was "reinventing the phone." The instrument of change: Apple's new iPhone, a combination iPod, mobile handset and personal data assistant. Investors voiced approval by driving the stock up 13% over two days. Jobs said his company aims to sell 10 million iPhones in 2008 at $499 to $599 a pop. The mobile phone market -- a $16 billion, 1-billion-unit-a-year business -- is as fickle as Apple is hip. But analysts boosted the stock's price targets and Apple's profit estimates, anticipating that the new gadget will be a successful follow-up to the hit iPod. The news came as Apple's financial performance came down from huge gains.
Quarterly sales growth averaged 67% in 2005 and dropped to 30% in 2006. EPS growth averaged 207% per quarter in 2005, then dropped to 51% in 2006. Apple is scheduled to report results for its fiscal first quarter, which ended in December, on Jan. 17. Analysts' consensus is 78 cents a share, up 20% from the year-ago period. The company has no long-term debt. Pretax margin grew the past two fiscal years.
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