toggle

AAPL Stock: 101.77 ( + 0.91 )

Printed from http://www.macnn.com

AmTech sets higher sights for Apple

updated 11:30 am EDT, Thu July 26, 2007

AmTech raises estimates

Apple's record June quarter serves as further proof that market bears are too pessimistic about the company, according to American Technology Research senior analyst Shaw Wu, who raised his full-year estimates despite Apple's own conservative guidance. "For fiscal year 2007, we are now modeling $23.6 billion and $3.65 (from $23.5 billion and $3.50) and for fiscal year 2008, $29.5 billion and $4.25 (from $30.2 billion and $4.10)," the analyst wrote in a research note obtained by MacNN. Wu points to Apple's continued ability to surprise, showcasing its ability as a large-cap multi-national company with a broad end-to-end portfolio -- which includes its Macs, iPods, iTunes Store, iPhone, and Apple TV. "We believe bears remain too pessimistic in underestimating Apple's profit potential and ability to generate strong cash flow," Wu said. "Moreover, bears have also underestimated bulls' ability to form more realistic expectations and focused too much on overzealous and sometimes outright irrational estimates." American Technology Research raised its 6-12 month price target from $165 to $185, but the firm warns that Apple shares will likely see a pull-back in the slower summer months -- particularly at the $135-140 level.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Autodesk Smoke 2015

Since May of this year, Autodesk has been shipping the highly anticipated update to its high-end post-production video editing suite, ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

toggle

Most Commented