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AAPL Stock: 100.57 ( + 0.04 )

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Caris & Co. raises Apple stock price target

updated 05:50 pm EDT, Tue May 8, 2007

Caris raises AAPL target

Research firm Caris & Co. today raised its price target on Apple shares from $110 to $115 based on predicted higher iPod sales in the June quarter over the March quarter. Firm analyst Shelby Seyrafi says he sees iPod units in the quarter growing to 11.9 million units from 10.5 million in the first quarter, while his previous forecast predicted a decline to 10 million units, according to Barron's. Checks from the hard disk market reveal strong demand for Apple's fifth-generation video iPod, according to the analyst, which likely accounts for between a quarter and a third of total iPod shipments. The analyst further suspects Apple's guidance for the June quarter as conservative, and sees upside for the iPhone. Caris & Co. raised its earnings-per-share estimates to $3.52 from $3.43 for the September 2007 fiscal year.




by MacNN Staff

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Comments

  1. mmmdoughnuts

    Joined: Dec 1969

    0

    ???

    WTF does an oil drilling platform have to do with this story?

  1. climacs

    Joined: Dec 1969

    0

    ummm...

    Apple is making profits like the oil companies?

  1. ClevelandAdv

    Joined: Dec 1969

    0

    Oil Rig

    That is an image from C&C's home page.

    I need this stock to keep going up so I can pay for gas!

  1. notehead

    Joined: Dec 1969

    0

    how brave...

    At the moment, the stock is already at $106.31. Somehow, given all the stuff in the Apple pipeline and its ongoing ownership of the personal music market, I get the feeling that a target of $115 is a little low.

  1. mmmdoughnuts

    Joined: Dec 1969

    0

    they should have used

    the guy in the bunny suit. That would have been better? Still pointless.

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