Matthew Hoffman, Senior Research Analyst, Cowen & Company
Hoffman conducted a survey of 1,079 households last month, and on the basis of this he believes Apple will outperform, because 40 percent had a Retina, 35 percent the original size, and 5 percent the mini.
Whoa! Or should I say, “Holy Cowen Batman!”
That’s a lot of of households with an iPad…Damn! With those kind of numbers one would think the market is saturated. Who the hell did he survey, Apple employees? Can that really be true, that 4 out of 10 households own an iPad? If there are approximately 118 million households in the United States, that would mean there are 47 million iPads out there, just in the States, is that possible?
Let’s break that down, here are the work-wide iPad sales numbers…
We know that as of Q1 2013 Apple has sold 121 million iPads world-wide, and with US share around 40 percent…wow! Matthew may be right. I’ve never really stop to consider that there are about as many iPads as there are…
Cowen & Co.’s Matthew Hoffman today reiterates an Outperform rating on the shares, arguing results can be slightly better this quarter than expected, in part because iPad trends seem positive. Hoffman is modeling $40.6 billion in revenue for the June quarter, and EPS of $10.03, above the consensus of $39.38 billion and $9.28. He expects sales of 21.7 million iPads and 31 million iPhone units.
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Tell me, what do you think?