updated 11:50 am EST, Wed November 30, 2005
Intel-PowerBooks at MWSF?
Apple may introduce its with a built-in iSight camera--much like the one in the newly redesigned iMac G5--is expected at Macworld Expo in January. Reuters reports that Gardner raised his target on Apple stock to $71 from $51 and boosted his earnings forecasts for the next two years, lifting AAPL by 10 cents to $68.20 in active morning trading.
For the current quarter, Gardner raised his revenue estimate to $5.5 billion from $4.8 billion and his earnings-per share forecast to 60 cents from 47 cents and also raised his 2006 revenue forecast to $20.4 billion from $17.6 billion along with his 2006 earnings estimate to $2.16 a share from $1.72, according to the Reuters report. For 2007, the firm predicts revenue of $24.3 billion and per-share profit of $2.61, up from the previous forecasts of $19.6 billion and $1.93.
"We are becoming more convinced that Apple will introduce its first Intel-based PowerBook at Macworld San Francisco," Gardner said in a note to clients. That conference runs from January 9 to 13.
Rehashing earlier reports, Gardner said these product introductions would be sooner than expected, which should help minimize the risk that Apple would end the quarter with a backlog of unsold inventory as customers anticipate the arrival of the new models.