Analyst issues 'neutral' rating, raises estimates
updated 12:05 pm EDT, Mon June 21, 2004
AAPL \'neutral\' rating
Analysts at First Albany today issued a , while raising their estimates for the company. Newratings notes that a First Albany’s research note published this morning says that Apple is likely "to witness re-accelerated momentum in iPod’s unit growth by the September quarter" and that it is "poised for robust near term unit growth in its iPod Mini and iTunes products in the European market" as well as the summer launch of the HPod product. However, because of supply constraints--expected to be relieved by the fourth quarter--the analysts expect only modest sequential gains in iPod shipments. The EPS estimates for FY04 and FY05 have been raised from $0.61 to $0.65 and from $0.72 to $0.88, respectively.
Fresh-Faced Recruit
Joined: Aug 2001
Neutral?
An analyst rating of neutral is code for 'sell that sucker!' I wonder how long this particular analyst has applied a rating of neutral or lower to AAPL?
In the meantime, AAPL has climbed steadily to more than DOUBLE its value over the last eighteen months! Analysts are worse than useless--they're positively dangerous...