Apple Inc. (NASDAQ:AAPL)’s Mac computer sales and iPod sales both seem to be down significantly from last year according to the analysis of Piper Jaffray analyst Gene Munster. Nonetheless he still expects a strong December quarter for the company, even after reports that demand for the iPhone 5 was weak, which pushed the company’s stock below $500 per share briefly on Monday.

ipod and mac computer

In a report issued to investors last night, Munster said he analyzed domestic retail data from NPD Group, which seems to indicate that Apple Inc. (NASDAQ:AAPL)’s December quarter results will likely indicate that Mac sales are down 14 percent year over year. He also noted that during the last three quarters. Apple itself reported Mac growth that outpaced NPD data by about 12 percent. That would indicate a 2 percent decline in Mac sales year over year.

However Munster also points out that comparing December 2012 to December 2011 is a bit difficult because in 2011, the month had an extra week. Therefore he “remains comfortable” with his previous estimate of a 7 percent decline in Mac sales year over year. That would indicate that Apple Inc. (NASDAQ:AAPL) sold about 4.8 million Mac computers in the December quarter.

Munster also examined NPD data for iPod sales and found that it seems to indicate between 11.5 and 12.5 million, which is in line with the 12.3 million units he estimated previously for iPod sales. He said his analysis seems to indicate that iPod sales are down 23 percent year over year. Wall Street estimated a 20 percent decline in iPod sales year over year.

Munster noted that most of the focus for Apple Inc. (NASDAQ:AAPL)’s sales during the December quarter will be on sales of the iPhone 5 rather than Macs or iPods, so he still expects that the company will return strong results. He has reiterated his Overweight rating and $875 per share price target.

Shares of Apple Inc. (NASDAQ:AAPL) fell 3.6 percent in trading Monday but rose less than 1 percent in pre-trades on Tuesday.