American Technology Research analyst Shaw Wu adjusted estimates downward for Apple sales and profitability in 4Q 2008 and FY 2009 Friday, based on reduced visibility in the computer maker’s supply chain.
“Our supply chain checks indicate a mix shift towards low-end and mid-range Macs as it appears that more affluent consumers may be feeling the effects of a tighter credit environment,” Wu wrote in a report to clients.
As a result, he estimates Apple will earn $5.29 per share on sales of $32.8 billion in 2008, down from a previous estimate of $5.34 on $32.9 billion. Estimates for fiscal 2009 now show the company earning $6.15 per share on revenue of $38.8 billion, down from $6.35 on $39.2 billion.
Wu trimmed is price projection for shares of Apple common stock (AAPL) to $205, down from $220. In late trading Friday AAPL shares were trading down $3.49 on the day at $149.16.
