GS raises AAPL estimates

Goldman Sachs has , saying that strong iPod shipments--estimating 4.5 million units shipped in the December quarter-- will drive strong first quarter earnings from Apple, which are due next week. The firm also cited strength in Apple's other consumer offerings as well as higher traffic and close rates at Apple's retail stores, according to Forbes. Goldman, however, cautioned investors until after Macworld Expo and maintained an "in-line" rating on the company: "While we remain extremely positive about Apple's fundamentals and continue to look for entry points, we think that investors would be better served to wait until after Macworld and Apple's earnings when the stock's 2005 outlook can be judged in a more settled light."

Goldman raised Apple's fiscal 2005 earnings estimates to $1.62 per share from $1.49, and raised the fiscal 2006 estimate to $2.02 from $1.84. Goldman's first-quarter earnings estimates were raised to 51 cents per share on revenue of $3.197 billion--up from earnings of 46 cents per share on revenue of $3.064 billion.

by MacNN Staff