Day: December 13, 2010

Andy Rubin, the executive in charge of Google’s mobile software effort, said that international expansion lay behind the latest advance. Speaking in an interview with the Financial Times, he also predicted that a boom in sales in India, Brazil, Indonesia and other emerging countries would contribute to the fast growth rate for the foreseeable future.

Quoting independent research suggesting that Android has also come to account for half of smartphone shipments in China, Mr Rubin said that the open-source nature of the software had made it popular there. However, in the wake of Google’s dispute over censorship with the Chinese government, Android handsets shipped by China Mobile, the dominant supplier, do not carry the company’s search or e-mail services.

via FT.com / Technology – Booming Asia drives Google’s Android.

This was already confirmed by the data published here this morning.

Verizon alone or with the other US operators cannot account for the majority of Android volumes and anecdotal evidence points out that Europe is not contributing much more.

[Goldman Sachs analyst Bill] Shope also expects both iPad and iPhone sales to exceed expectations in 2011; he sees sales of 37.2 million iPads next year, “which could potentially make Apple one of the largest vendors in the global personal computing market,” if you include both tablets and PCs.

via Apple: Goldman Pounds The Table; Sets $430 Target – Eric Savitz – Tech Musings – Forbes.

Apparently, it’s not just the crazy ones who dare to think the iPad is computer.

My forecast for iPad in calendar 2011 was set at about 33 million since last summer. I may raise it if Q4 units top 6 million.

Meanwhile…

He re-launched coverage of the stock for Goldman this morning, setting a Buy rating and $430 price target, while placing the stock on the firms “America’s Conviction List.”

I don’t make stock price forecasts as they are based on a random number called ‘sentiment’. But by forecasting earnings and assuming a range of P/E multiples between 15 and 20 (essentially in-line or below the S&P 500) values Apple’s stock at between $360 and $480 by this time next year.

Goldman’s target of $430 is about in the middle of this range so I don’t see it as requiring much in the way of conviction.