The Long Knives Come Out As Apple (AAPL) Estimates Cut

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According to Barron’s, one of the Wall St. analysts who follows Apple (AAPL) most closely has sharply cut his forecasts.

"For the September 2009 fiscal year, Munster cuts his revenue estimate to $38.86 billion from $40.45 billion; EPS goes to $5.46 from $5.67. For FY 2010, his revenue outlook drops to $50.08 billion, from $51.76 billion; his profit estimate is now $7.73, down from $7.98. Munster knocked his legendary $250 price target down to $235."

What does Gene Munster blame? The recession.

Douglas A. McIntyre