SOURCE: The Bedford Report

The Bedford Report

October 19, 2010 08:46 ET

PC Makers Breathe a Sigh of Relief as iPad Shipments Miss Estimates

The Bedford Report Provides Analyst Research on Apple & Dell

NEW YORK, NY--(Marketwire - October 19, 2010) -  Last week Analyst firms Gartner and International Data Corporation warned that Apple's iPad rattled the technology world and caused many consumers to think twice about buying new personal computers. Gartner analyst's claimed that "Consumer mobile PC demand, driven by low-priced notebooks, including mini-notebooks, slowed after very strong growth the past two years." The firm added that "media tablet hype around devices such as the iPad has also affected consumer notebook growth by delaying some PC purchases, especially in the US consumer market." But then yesterday Apple's iPad business posted a huge miss -- what now? The Bedford Report examines the outlook for companies in the Computer Manufacturing Industry and provides research reports on Apple, Inc. (NASDAQ: AAPL) and Dell, Inc. (NASDAQ: DELL). Access to the full company reports can be found at:

Yesterday after the bell, Apple said it earned $4.31 billion, or $4.64 a share, in its fiscal fourth quarter, against $1.82 a share last year while revenue for the quarter was reported at $20.34 billion, versus $9.87 billion last year. The key driver for Apple's quarter was clearly the iPhone with sales of the smartphone jumping 91 percent to 14.1 million units. iPad sales did not meet up to Street consensus, however. Apple's iPad business reported 4.19 million shipments versus consensus analyst estimates of 4.7 million.

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Despite less-than-expected iPad sales, the tablet device has created what the research firm Gartner calls a "halo effect" which boosted Mac sales. For its fiscal fourth quarter, Apple sold 3.89 million Macs, an increase of 27 percent. Presently, Apple is the number three PC shipper in North America behind HP and Dell.

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