AAPL Stock: 94.72 ( + 0.78 )

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Analysts raises AAPL target, estimates \'halo effect\'

updated 04:30 pm EST, Thu February 24, 2005

AAPL target raised

Needham & Co. analyst Charlie Wolf has raised his target price on Apple from $83 to $104 a share. The firm also raised its earnings per share estimates from $1.85 to $2.00 in fiscal 2005, and from $2.25 to $2.50 in 2006. Wolf reiterated his belief that 11% of Windows users owning iPods will purchase a Mac, and notes that sales at the iTunes Music Store have accelerated to a $450 million annual run rate. "The increase in music sales in combination with a decrease in peripheral sales in our revised model raises Apple's overall gross profits because music sales are much more profitable than peripheral sales," Wolf said. Needham maintains a 'Buy' rating on Apple.

by MacNN Staff





  1. luxuryluke

    Joined: Dec 1969



    BUY! BUY! BUY! (a la submarine speak)

  1. Kenneth

    Joined: Dec 1969



    The numbers are amazing.

  1. ccrider

    Joined: Dec 1969



    quadrupeled my investment in just over a year..


  1. PBG4 User

    Joined: Dec 1969


    Music Sales More Profits?

    I thought Apple netted about $0.04 per song sold. I would hope they make more from each iPod (or even computers, remember them?) sold.

  1. macslut

    Joined: Dec 1969


    11% of 26 million = ____

    If 11% of Windows users who buy iPods switch to Mac, and there are expected to be 26 million iPod purchases this year, that translates into roughly 2.5 million switchers. With this growth/switch rate, I can look forward to raising my son in a world without Windows!!!!

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