2:08 AM - Investors continue to make outragous estimates for AAPL
UBS raised its price target on APPLE INC. (AAPL) to $160 from $133, and hiked its 2007 and 2008 forecasts for iPhone shipments. "We continue to believe new products should help stimulate revenue acceleration through FY08 with the iPhone driving another leg of the 'multiplier effect'," UBS analyst Ben Reitzes wrote in a note to investors. For fiscal 2007 the brokerage raised its estimate on iPhone shipments to 950,000 units from 850,000 units. For fiscal 2008 it expects iPhone unit shipments of 8.1 million, up from its previous view of 7.4 million. UBS reiterated its "buy" rating on the stock. (Reuters 09:59 AM ET 06/07/2007)
I don't believe its possible for Apple to ship that many iPhones. My fear is the mass sell off after the iPhone ships at the end of the month. It may wait until initial weekly sales figures for the iPhone are leaked by Cingular, but it will happen.