Joined Nov 11, 2007
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RBC: Apple iPAD’s “Selling like Hotcakes”

via Briefing:

Apple Q2 preview; iPads outselling hotcakes; FY11 ests raised – RBC Capital Mkts (332.20 +1.40)
RBC notes, on pent-up iPad2 demand, VZ iPhone, and Macbook Air uptake, it expects $24.0 bln rev and $5.75 EPS, above street ($23.2B, $5.33) and guidance. With 8M iPad 2 shipments expected, Q3 revenue guidance expected at $23-24B (46-53% Y/Y), inline with street ($23.8B). EPS guidance expected below street ($4.50-4.70, street $5.28) with 36% Q3 margin guidance and September iPhone 5 timing. On higher iPads (31M vs. 25M prior), its F11 ests become $102B rev and $23.55 EPS (prior $99/$23.30;$100.4/$23.02 consensus).

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