Personal computer sales in the June quarter were probably about average for this time of year, writes Credit Suisse analyst Bill Shope this morning in a note to clients, and he expects Apple to be “best in show” among PC vendors in the quarter.
Credit Suisse analyst Spencer Wang this morning repeated his Outperform rating on Google, while increasing his price target on the stock to $475, from $400. He also lifted EPS estimates on the company: for Q2, he now sees $4.99, up from $4.48. For the full year, he goes to $21.07, from $19.78.
Credit Suisse analyst Bill Shope this morning boosted his estimates for Apple, asserting that demand for both Macs and iPhones held up better than he feared in the March quarter.
For the March quarter, he now sees revenue of $7.76 billion and profits of $1.09 a share; his previous forecast was for $7.44 billion and 97 cents.
GameStop shares are getting clobbered today on news that Amazon.com is getting into the business of buying and selling used videogames–and so is Toys ’R Us.
Credit Suisse analyst Gary Balter explained in a research note today that one reason he has maintained an Outperform rating on GME shares is that the company has dominated the used videogame business; he notes that used games generate 44 percent of the retailer’s gross profits, nearly twice the segment’s sales contribution to the company.
Nokia shares are taking a big hit ahead of the company’s fourth-quarter earnings report due Thursday morning.
Credit Suisse analyst Kulbinder Garcha this morning cut his 2009 handset industry sell-in forecast to down 10 percent, from a previous six percent. He also cut his EPS estimate an extra 13 cents–from 87 to 74–upon expectations of continued loss of demand and inventory.
Numbers aren’t really working out that well for Dell. One of Its rivals scored points today with impressive preliminary results, but–of more significance–there are ominous sounds coming from Intel’s direction regarding the rest of this year and the whole of next year. Cautionary pre-earnings notes took their toll this morning as well, and drove the numbers down.
Comcast’s earnings get announced before tomorrow’s opening bell, but the company has a couple of things going for it that might be helping analysts predict what those numbers will look like. First, 70 percent of consumers prefer bundling, and currently only cable can offer it. Second, even as we head into a recession, broadband and video are considered “no more discretionary for most families than running water.”
Back on June 26, Credit Suisse analyst Kulbinder Garcha picked up coverage of Research In Motion (RIMM) with an Underperform rating, setting a $100 price target. So far, he’s looking like a genius: RIMM shares are since down 16 percent.
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