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Forbes: ‘Apple Could See IPod Downside’

A story on Forbes today notes a report from Piper Jaffray that Apple could see slight downside to analysts’ fiscal third-quarter iPod unit estimates. “While it is way too early to make a call on June quarter iPod results, we have analyzed the first month of NPD data (April) for the quarter and found that it suggests iPod units of around 8 million,” wrote analyst Gene Munster. “The Street is currently looking for 8.6 million iPods in the June quarter; Munster’s model anticipates 8.25 million,” notes the report. “Recent chatter in various articles and web postings about trends with component suppliers have suggested that iPod units were slower than expected in April, so we do not think investors will be surprised by this early datapoint,” the analyst noted. “As a result of ‘Grads and Dads’ buying we believe May and June iPod sales will likely be better than what was seen in April.” Munster maintained an “outperform” rating and US$99 price target on Apple shares.

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