As Wall Street looks forward to Apple next week reporting revenue for the holiday period, Goldman Sachs analyst David Bailey thinks Cupertino may encounter problems with the March quarter.
Apple’s double-digit growth rates may well sputter as the company “will undoubtedly be affected by softer consumer demand” for its pricier products, Bailey told investors Friday.
The analyst told clients Apple’s revenue for the March quarter will be between $7 billion and $8 billion. Wall Street is forecasting $8.24 billion in revenue for the period.
Bailey expects Apple will report just 4 percent growth for the March quarter, after a 17 percent jump in Mac sales during the December quarter.
The news comes as Apple lost ground in the U.S., falling from to 8 percent of the domestic market, down from 9.5 percent earlier in 2008, Gartner announced Thursday.
Apple’s holiday sales were up 8.3 percent, selling 1.23 Macs, Gartner said. The sales were 8.3 percent higher than the same period in 2007.
Apple should either meet or top Wall Street’s consensus of $9.78 billion during the quarter ended December. The Goldman Sachs analyst believes Apple will report between $9 billion and $10 billion in revenue.
Bailey expects Apple will report selling 5.5 million iPhones and 2.6 million Macs for the quarter.
