First Albany ups AAPL

First Albany has , saying that higher sales from Mac OS X Tiger and increased assumptions for iPod are expected to offset lower sales of the Mac mini. Marketwatch reports that analyst Joel Wagonfeld raised his fiscal third-quarter earnings estimate to 34 cents a share from 29 cents and also increased his revenue forecast to $3.4 billion (up from $3.3 billion). Wagonfeld said that he estimates that Apple sold about 2.8 million Tiger copies during its fiscal third quarter; he also increased his iPod sales forecast to 5 million units from 4.25 million, but cut his Mac mini forecast to 250,000 units sold from 400,000. First Albany reiterated its "buy" rating with a 12-month price target of $44, according to the report.

by MacNN Staff