Credit Suisse ups AAPL

The worth of Apple stocks rose more than $3 on Thursday morning, following the release of a new Credit Suisse report boosting estimates on Apple performance. Analyst Bill Shope has risen his price target for Apple stock from $120 to $133, based on March-quarter Mac and iPhone sales which he argues did better than originally envisioned. Revenue for the period is expected to be $7.76 billion, with an EPS of $1.09; Shope's had previously suggested $7.44 billion in revenue and $0.97 in EPS.

FY09 estimates have been raised to $34.54 billion and $5.11, an increase from $33.17 billion and $4.89. Both the March and FY09 predictions are below consensus however, which in turn is expected to shrink over the course of 2009. Apple's guidance is expected to slot June-quarter revenue between $7.7 billion and $8.1 billion, producing EPS of about $0.90 to $1. Street consensus is nevertheless $8.31 billion in revenue, with $1.11 in EPS.

by MacNN Staff