toggle

AAPL Stock: 130.28 ( -1.5 )

Printed from http://www.macnn.com

UBS raises Apple estimates, price target

updated 01:20 pm EDT, Thu April 26, 2007

UBS ups estimates, target

Research firm UBS today raised its earnings estimates for Apple shares through fiscal year 2008 due to higher margins, and upped its price target from $124 to $133 based on the firm's new 2008 earnings-per-share estimates. Apple yesterday reported a record March quarter with a gross margin of 35.1 percent and earnings-per-share of $0.87, well above Wall Street's consensus of $0.64. The company saw better than expected margins, with revenues of $5.26 billion beating out the research firm's estimated $5.12 billion. "Mac units of 1.517 million beat our estimate of 1.495 million with the upside driven by strong desktop sales," said UBS analyst Ben Reitzes. "We believe Macs will continue to have solid momentum through fiscal year 2008 as the Multiplier Effect continues." UBS reiterated its 'Buy 2' rating on Apple shares.

The firm is estimating 2007 third quarter earnings-per-share at $0.70, up from $0.65, on 20 percent revenue growth to $5.22 billion. UBS is also guiding for a gross margin of 32 percent, up from 29.6 percent, and an operating margin of 14.9 percent, up from 13.5 percent.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. notehead

    Joined: Dec 1969

    0

    stock split

    Okay, Apple, we just busted through $100. There's a huge clamor for the iPhone, and the rest of the pipeline looks pretty good too. It's time for a split!!

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Notti smart lamp from Witti

Perhaps you've already seen our review of the Dotti LED display from Witti Design. Meet Notti, Dotti's "sibling". Notti is a softb ...

Seagate Personal Cloud (2-Bay)

When it comes to backing up files, many users are now looking to the myriad of cloud storage solutions available. There is no doubt th ...

Leitz Icon Label Printer

When you say the words "label printer" to people, they either just really don't care, or they get incredibly excited. This is one o ...

toggle

Most Commented