macnn
01/14/2008, 10:20am, EST
Monday, January 14th
Bank of America boosts Apple target to $200
An analyst with the Bank of America has raised his financial expectations for Apple based on sales figures, according to Thomson Financial. Scott Craig says that as a result of computer sales following the release of Mac OS X Leopard, he is raising his first-quarter earnings forecast from $1.52 per share to $1.60; revenue estimates, meanwhile, are being pushed from $9.3 billion to $9.6. For fiscal year 2008, Craig is predicting a growth of $5.04 per share instead of $4.87, and revenue of $31.7 billion versus $30.7 billion.
The stock is of course being given a "buy" rating, with an eventual price target set at $200. Craig argues that while the surrounding economy may fluctuate, Apple is "less likely" to be affected, due to diversified business, loyal customers and a swelling market share.
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to joe shmo, this means nothing.. but to the guy who can purchase 20,000 shares at a time, this is a big deal :)
But if the outlook is good, it's going well beyond 200 a share!!
But we'll be back up in a few weeks. I have no doubt of it.