Analyst Cuts iPod Sales, Sees Buyers Upgrading

Shaw Wu of the Kaufman Brothers has updated estimates of Apple’s December quarter, Rating Apple Stock a buy with a favorable risk-reward balance. Wu’s estimates have seen little movement, with a more conservative approach on iPods, but assuming a higher Average Sales Price (ASP). Expectation are of reductions in the strong European iPhone Sales, primarily due to iPhone gift cards; many won’t be activated between Christmas and New Year’s, moving the profits to the March quarter.

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