Piper Jaffray Analyst Gene Munster appeared on CNBC’s Fast Money program today (July 7). See video below. Discussion of Apple (AAPL) begins about halfway through the video. According to Piper Jaffray’s channel checks iPhones and Macs are selling well and should have a favorable impact on Apple’s (AAPL) earnings. As Munster puts it: “There’s no question that now is a good time to own Apple (AAPL) … June is going to be good, but September and December are going to be huge for these guys (Apple) … iPhone apps are like a boa constrictor, these apps on the iPhone are slowly squeezing the life out of the competition … This is going to be a strong back-half of the year for Apple (AAPL).”
Munster suggested that Apple’s recent decision to cut Macbook prices was a smart business move. He noted that inventories are low and believes that Apple sold at least 2.2 million Macbooks during the third quarter. According to Munster: “We track product lead-times and our records show that Apple has never had a 7-10 day delay on its most popular 13″ model, with the most recent significant delay being 5-7 days over 2 years ago in 9/08.” …”We see this as a sign that demand is outpacing the company’s build expectations, and it may take several weeks to reach a supply demand equilibrium.”
