Apple on Track to Meet 3Q Sales Expectations

Apple is on track to sell just shy of 3 million Macs and close to 11 million iPods in the September quarter, according to Piper Jaffray analyst Gene Munster. If Apple manages to hit the high end of Munster’s estimate of betweeen 2.7 million and 2.9 million Macs sold from July through September, it will be the first time Apple will have sold 10 million Macs in any fiscal year in its history.

Munster based his estimates on July sales data from NPD Group, which also suggested the possibility of sales of 4.1 million iPhones and a gross margin of 32 percent. Munster estimates Apple’s earnings per share at $1.19 on revenue of $8.5 billion. Wall Street consensus estimates put the numbers at $1.11 on $8.08 billion, while Apple’s previous guidance calls for $1.00 on $7.8 billion.

Munster affirmed his Buy rating on Apple, Inc. (AAPL) shares, with a price target of $250. The stock closed today at $172.55 in New York trading.

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