Piper Jaffray: Quarterly iPod Shipments Below Expectations
Gene Munster and Michael Olson of the research firm Piper Jaffray have predicted that iPod sales for the October, November and December period may fall below previous estimates of 25 to 26 million. The predicted drop to 23.5 million units shipped is mainly due to lower iPod sales in the month of December ( derived from NPD figures ) compared to typical sales in the quarter for the past three years. According to the duo, October and November sales were solid while December sales did not hold up as well. They maintain a Buy rating and $250 price target on Apple shares.