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Zach Bass (a.k.a Ernie Varitimos) is Chief Bloviator of Investor in the Wilderness. He has 30 years experience as a Tech Maven, Investor and Consultant. Zach has been using Macs since their introduction in 1984, and investing in the markets just as long. His mission is to help guide all level of investors through the Apple Ecosphere and make sense of the markets. Zach's take on Apple, the markets, and life pursuits, will keep your mind tuned.

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Apple Antagonist Toni Sacconaghi Goes Out on Limb

July 2nd, 2008 • Related • Filed Under
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Yesterday (July 2), Toni Sacconaghi went against his usual Apple bashing modus operandi, and raised his earnings estimates for Apple to $5.27 from $5.17, and to $6.52 from $6.26 for FY ‘09. The consensus of all AAPL analysts is $5.20 for FY ‘08 and $6.36 for FY ‘09. Good on you Toni!

But wait, there’s more! Toni goes way out on a limb and raises his price estimate to $175 from $165. Whoo hoo! Now that’s really taking a chance, considering that AAPL has already breached that mark recently, and is only pennies away from it as I write this piece.

Toni reports that Apple may capture 15% of the U.S. cellphone market in 2009, and 6% share of the over seas market. Sacconaghi says, “These are impressive numbers given the iPhone remains positioned at the very high end of the mobile handset market.” Sacconaghi expects Apple to sell 8.5 million 3G iPhones by the end of this calendar year, and 19.5 million in ‘09. Those are pretty impressive numbers!

But I don’t get it. Why now Toni? Just a few of weeks ago you and your firm released a scathing study reporting that big company CIOs all over the world have no plans to even consider the iPhone for their business. What’s changed? Could it be that your customers are fleeing in droves because of the obvious blunder of positioning them against what may be the most disruptive and influential product in mobile computing history?

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