In FY13 Ragan sees Apple Inc. (NASDAQ:AAPL)’s gross margin settling into a more normal 38% range from an unsustainable 43.9% level in FY12. That will cause relatively flat EPS for the year (Ragan estimates $45.38 vs. $44.14 last year) and down EPS in the March quarter (fiscal Q2, he estimates $10.61 vs. $12.30 last year, which included the peak gross margin at 47.4%). However, he looks for EPS growth to resume in the June quarter (fiscal Q3) and for gross margins to stabilize in the mid-to high 30%s.
He believes that gross margins can range between 36%-39% going forward. As the adjustment is addressed this fiscal year, double digit EPS growth can resume.
Asa zic si eu. De aceea, stau cuminte pana trece trimestrul curent si pretul actiunii incepe sa creasca, si investesc din nou in AAPL.