Is Apple Recession-Proof?
Wednesday, February 18th, 2009
At least one Silicon Valley company is poised to ride out a stormy economic forecast virtually unscathed. In fact, American Technology Research analyst Shaw Wu goes so far as to call Apple “recession-proof.”
After doing his customary supply-chain checks, Wu says he sees no cause for alarm for the Cupertino, California, company, even in the face of a sputtering U.S. economy and ongoing concerns about falling iPod sales.
While a static economy is already taking its toll on the tech sector, Wu is predicting that Apple will ship 11 million iPhones by the end of 2008, 1 million more than the company’s goal. He’s also tweaking the 38 percent year-over-year growth he predicted in Mac unit sales in January, and now believes growth may be as high as 42 percent. That’s at least partially based on an uptick in Macbook Air sales, he says. The only slight bump in the road is iPod sales, which Wu believes will fall somewhere in the 9.5-10 million unit range. That’s about a million units below the Street’s 10.8 consensus. (more…)
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