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AAPL Stock: 504.18 ( + 1.58 )

Merrill Lynch raises AAPL target to $49

updated 07:00 am EDT, Thu October 14, 2004

Merrill: AAPL at $49


Merrill Lynch overnight from $44 after the PC maker delivered higher-than-expected earnings for the September quarter. Merrill analysts raised the earnings estimate for fiscal 2005 to $1.20 a share from 95 cents a share, saying that Apple's earnings upside in the quarter "was entirely in iPods as Mac sales suffered from continued shortages of the G5 chip from IBM....Because we believe in the halo effect of iPod, the positive impact on Mac sales may still be coming."


by MacNN Staff

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  1. jimothy

    Fresh-Faced Recruit

    Joined: Sep 2000

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    10/14, 08:11am | report spam | Reply |

    Check your headline

    Better make that $49

  1. Horsepoo!!!

    Banned

    Joined: Jun 2003

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    10/14, 08:13am | report spam | Reply |

    Dr. Evil

    I raise my target price to... one meeeellion dollars.

  1. eribas

    Fresh-Faced Recruit

    Joined: Jan 2004

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    10/14, 09:37am | report spam | Reply |

    do i see...

    ... a split in the next quarter?

  1. hayesk

    Professional Poster

    Joined: Sep 1999

    0
    10/14, 09:58am | report spam | Reply |

    PC Maker?

    Don't get me wrong, I'm glad the finance community is bullish on Apple, but the fact that analysts continue to label Apple as a "PC Maker" tells me they don't understand the Mac market at all and think of Apple as just a box maker like Gateway.

    Even without the iPod, Apple could have been a lot more successful if not for the financial analysts continuing to misdiagnose Apple's financial health by treating them exactly like any other PC maker.

  1. Zaren

    Fresh-Faced Recruit

    Joined: Aug 2001

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    10/14, 10:01am | report spam | Reply |

    w00t

    Apple Stock Quote: 42.93 (3.18 )

    Go Apple!

  1. Zaren

    Fresh-Faced Recruit

    Joined: Aug 2001

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    10/14, 11:07am | report spam | Reply |

    w00t++

    Apple Stock Quote: 43.92 (4.17 )

    If I may repeat myself...

    Go Apple!

  1. eddd

    Fresh-Faced Recruit

    Joined: Dec 2001

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    10/14, 11:10am | report spam | Reply |

    PC is PC

    Apple is a PC maker in the literal meaning of PC - "Personal Computer." And I think you're asking a bit much for financial analysts to understand or even care about Apple's stated goals and ambitions. What matters to them is the numbers... the actual performance of the company. In fact, most analysts guard against any sort of emotional involvement with the companies they evaluate - it clouds their judgement.

  1. hayesk

    Professional Poster

    Joined: Sep 1999

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    10/14, 11:32am | report spam | Reply |

    Re: PC is PC

    Sorry, but I disagree. I never said an analyst is caring about goals and ambitions or has emotional involvement - I don't know why you even brought that up.

    But a good analyst would recognize that a Mac is not a Wintel PC. There is a huge difference in the market based on brand loyalty. A customer can easily switch from Gateway to Dell because essentially, the products are the same. Not so with a Mac. Apple has a more captive market, and people buy a Mac over a PC for a different reason than buying a Gateway over a Dell. For years, analysts didn't understand that and it does have a great effect on sales.

    A good analyst knows the reason behind the numbers. It's not enough just to know what the numbers are, as you have stated.

  1. Xeo

    Moderator Emeritus

    Joined: Mar 2001

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    10/14, 12:02pm | report spam | Reply |

    past is the past :(

    Shoulda bought when they hit $13. Too bad I was broke (still am).

  1. testudo

    Fresh-Faced Recruit

    Joined: Aug 2001

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    10/14, 01:06pm | report spam | Reply |

    Notice?

    Anyone else notice that sales of apple's consumer lines were down last quarter (both iMac/eMac AND iBook - iBook down markedly). Shouldn't they have been up for the school year buying?

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