Line 'Em Up... Apple's (AAPL) Gonna Knock 'Em Down...
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Earlier in the week, Streetinsider pointed out Cirrus Logic's (Nasdaq: CRUS) earnings report as all-but-assuring a dominant report from Apple (Nasdaq: AAPL). Thursday there's another company to mull: Multi-Fineline Electronix (Nasdaq: MFLX).
On Wednesday, Multi-Fineline said it expects first-quarter 2012 sales of about $239 million, well above the $215 million consensus expected on the Street. CEO Reza Meshgin said Multi-Fineline expects net sales to exceed the high-end of its previous outlook and "...an increase in shipments to our largest key customer."
One UBS analyst, courtesy of AppleInsider, said Multi-Fineline supplies Apple with printed circuit boards for products like the iPhone and iPad. He's estimating the company gets about 66 percent of its revenue from Apple. Of note, Multi-Fineline had a weak calendar third quarter, the same quarter in which Apple missed views.
Multi-Fineline also said it expects less seasonal declines heading into the second quarter on stronger demand of its smartphone and tablet assemblies. Apple's iPhone 4S will be launching in China during the first quarter of 2012, and the company is ramping-up production of its iPad 3, according to previous reports.
The UBS analyst also pointed out strong December results for Apple suppliers such as Foxconn parent Hon Hai, TPK, and Catcher. Hon Hai's December revs climbed 3.2 percent alone.
Other indicators include: Verizon's (NYSE: VZ) recent announcement its iPhone sales doubled to 4.2 million units in the quarter, AT&T (NYSE: T) said its probably going to beat record iPhone sales of 6.1 million units, and Piper Jaffray's Gene Munster raised his iPhone estimate for the quarter from 26 million units to 30 million units. Goldman Sachs also raised its iPhone target from 30.2 million to 31.0 million for the quarter, while also boosting other estimates.
Heading into numbers -- expected out on January 24th -- the Street is looking for earnings of $9.94 per share and revenue of $38.52 billion for Apple. Shares are indicated higher early Thursday.
On Wednesday, Multi-Fineline said it expects first-quarter 2012 sales of about $239 million, well above the $215 million consensus expected on the Street. CEO Reza Meshgin said Multi-Fineline expects net sales to exceed the high-end of its previous outlook and "...an increase in shipments to our largest key customer."
One UBS analyst, courtesy of AppleInsider, said Multi-Fineline supplies Apple with printed circuit boards for products like the iPhone and iPad. He's estimating the company gets about 66 percent of its revenue from Apple. Of note, Multi-Fineline had a weak calendar third quarter, the same quarter in which Apple missed views.
Multi-Fineline also said it expects less seasonal declines heading into the second quarter on stronger demand of its smartphone and tablet assemblies. Apple's iPhone 4S will be launching in China during the first quarter of 2012, and the company is ramping-up production of its iPad 3, according to previous reports.
The UBS analyst also pointed out strong December results for Apple suppliers such as Foxconn parent Hon Hai, TPK, and Catcher. Hon Hai's December revs climbed 3.2 percent alone.
Other indicators include: Verizon's (NYSE: VZ) recent announcement its iPhone sales doubled to 4.2 million units in the quarter, AT&T (NYSE: T) said its probably going to beat record iPhone sales of 6.1 million units, and Piper Jaffray's Gene Munster raised his iPhone estimate for the quarter from 26 million units to 30 million units. Goldman Sachs also raised its iPhone target from 30.2 million to 31.0 million for the quarter, while also boosting other estimates.
Heading into numbers -- expected out on January 24th -- the Street is looking for earnings of $9.94 per share and revenue of $38.52 billion for Apple. Shares are indicated higher early Thursday.
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