Analysts up Apple estimates following earnings
updated 11:20 am EST, Thu January 13, 2005
Analysts bullish on AAPL
Analysts for earnings and revenue growth at Apple overnight after the iPod maker's fiscal first quarter came in well ahead of the estimates, reports CBS MarketWatch "J.P. Morgan is projecting March quarter earnings of 47 cents a share, up from its prior estimate at 34 cents a share. The broker now sees revenue at $3.035 billion, up from a view earlier at $3.007 billion. UBS also raised its fiscal second quarter earnings per share estimate to 41 cents from an earlier 29 cents 'to factor in higher sales of Macs & iPods.... We continue to believe that the iPod phenomenon is driving upside in Apple retail stores, sales of peripherals/accessories and now-Macs,' the broker told clients. Apple shares were up 11 percent in European trade of U.S. stocks - in line with the surge late Wednesday after the PC maker's quarterly report."
