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專欄 - 蘋果2_0

蘋果Mac銷量有望創(chuàng)新高

Philip Elmer-DeWitt 2011年10月18日

蘋果(Apple)公司內(nèi)部流傳著一個(gè)老笑話,那就是史蒂夫·喬布斯周圍是一片“現(xiàn)實(shí)扭曲力場”:你離他太近的話,,就會相信他所說的話,。蘋果的數(shù)百萬用戶中已經(jīng)有不少成了該公司的“信徒”,而很多蘋果投資者也賺得盆滿缽滿,。不過,,Elmer-DeWitt認(rèn)為,,在報(bào)道蘋果公司時(shí)有點(diǎn)懷疑精神不是壞事。聽他的應(yīng)該沒錯(cuò),。要知道,,他自從1982年就開始報(bào)道蘋果、觀察史蒂夫·喬布斯經(jīng)營該公司,。
在這一點(diǎn)上,,大多數(shù)分析師的意見是一致的:Mac 在2011年夏天的銷售情況甚至比2010年圣誕節(jié)還要好

????6月份當(dāng)季,,即蘋果公司(Apple)的第三財(cái)季,,Mac是少數(shù)銷量沒有達(dá)到預(yù)期的產(chǎn)品之一。分析人士原本預(yù)計(jì)銷量為420萬臺,,但蘋果公司只賣出了395萬臺,。

????本周二蘋果將公布第四財(cái)季業(yè)績,這種情況可能不會重演,。

????所有人似乎都同意Mac是推動本來可能萎縮的個(gè)人電腦市場繼續(xù)增長的少數(shù)電腦產(chǎn)品之一,,特別是7月份蘋果推出了全新一代MacBook Air和Mac mini以來更是如此,這兩款都是最受歡迎的蘋果產(chǎn)品之一,。

????我們的業(yè)績預(yù)測調(diào)查中排名居前的53位分析師中,,除了兩人——券商Sterne Agee的肖?吳和券商Janney的比爾?蔡,所有人都預(yù)測蘋果將打破去年圣誕節(jié)季度創(chuàng)下的413.4萬臺Macs銷量紀(jì)錄,。雖然Macs銷量預(yù)測值最低有吳和蔡的410萬臺,,最高有535萬臺(AAPL Independent Analysts的奈維?奈格拉尼給出的預(yù)測值),但機(jī)構(gòu)分析師和獨(dú)立分析師的預(yù)測值差距還算比較小,,至少與他們對營業(yè)收入,、每股收益、iPhone和iPad的預(yù)測值相比是如此,。

????Mac銷量預(yù)期均值方面,,職業(yè)分析師們給出的是430萬臺,博主們給出的估值是470萬臺,。所有53位分析師給出的平均預(yù)期略高于450萬臺,,同比增長16%。華爾街預(yù)計(jì)增幅14%,,其他預(yù)計(jì)21%,。

????美國東部時(shí)間周二下午4點(diǎn)半左右隨著蘋果季度業(yè)績發(fā)布,我們將看到誰的預(yù)測最準(zhǔn)確,。蘋果擬定于當(dāng)日下午5點(diǎn)的電話會議上與分析人士討論這些數(shù)據(jù),,電話會議的網(wǎng)絡(luò)直播可點(diǎn)擊這里,。

????下表是迄今為止我們收集的預(yù)測數(shù)據(jù)及其提交日期,,獨(dú)立分析師標(biāo)綠,,機(jī)構(gòu)分析師標(biāo)藍(lán)。排名反映的是過去三個(gè)季度各分析師的營收和每股收益預(yù)測值的準(zhǔn)確度(越靠后越準(zhǔn)確),。

????The Mac was one of the few products that failed to live up to expectations in the June quarter (Apple's fiscal Q3). Analysts were looking for sales of 4.2 million. What Apple (AAPL) delivered was 3.95 million.

????That's not likely to happen again on Tuesday, when Apple reports its earnings for fiscal Q4.

????Everybody seems to agree that in a PC market that would otherwise be shrinking, the Mac is one of the few computer lines keeping it afloat, especially after the July refresh of two of Apple's most popular models: the MacBook Air and the Mac mini.

????Of 53 analysts polled in advance of our quarterly earnings smackdown, all but two -- Sterne Agee's Shaw Wu and Janney's Bill Choi -- are calling for Apple to beat the record 4.134 million Macs sold in the holiday quarter last year. Although the estimates range from Wu and Choi's low of 4.1 million to a high of 5.35 million (from Navin Nagrani of AAPL Independent Analysts), the spread between the institutional and independent analysts is relatively narrow, at least compared with their estimates for revenue, EPS, iPhones and iPads.

????The average Mac unit sales estimate among the pros is 4.3 million; among the bloggers it's 4.7 million. The average estimate of all 53 analysts is a little over 4.5 million, representing 16% growth from the same quarter last year. The Street is looking for 14%, the indies for 21%.

????We'll find out who was closest to the mark next Tuesday at about 4:30 p.m. EST, when the quarterly results hit the business wires. Apple is scheduled to discuss those results in a 5 p.m. conference call with analysts that the company will webcast here.

????Below: The estimates we've gathered so far and the dates they were submitted, with the independents in green and the institutionals in blue. The rank numbers show how accurate each analyst's revenue and EPS estimates were over the past three quarters (the lower the better).

????數(shù)據(jù):分析師報(bào)告,,Apple 2.0

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