updated 05:40 pm EST, Fri December 16, 2005
AAPL estimates raised
Research firm Lehman Bros. as well as its stock price target for Apple, citing an improved outlook for iPod sales, according to MarketWatch: Analyst Harry Blount said that Apple's "fully refreshed product line" in the last 6 months was "the biggest product refresh cycle in the company's history." Blount raised his iPod unit shipment estimate to 12.6 million from 8.7 million as well as his fiscal first-quarter earnings estimate to 57 cents a share from 49 cents. He also raised his revenue forecast to $5.6 billion from $4.7 billion and his price target for Apple to $78 from $60, maintaining an "equal weight" rating on the stock.