View this article at: http://dev.macnn.com/articles/05/11/30/intel.powerbooks.at.mwsf
Wednesday, Nov 30, 2005 11:50am
Citigroup: Intel-PowerBooks...
Apple may introduce its first Intel-based PowerBooks as early as January, which, together with robust sales of video iPods, should drive earnings higher, according to Citigroup. Analyst Richard Gardner's comments appear to corroborate reports by AppleInsider earlier this month, which reported that an Intel-based 15-inch PowerBook with a built-in iSight camera--much like the one in the newly redesigned iMac G5--is expected at Macworld Expo in January. Reuters reports that Gardner raised his target on Apple stock to $71 from $51 and boosted his earnings forecasts for the next two years, lifting AAPL by 10 cents to $68.20 in active morning trading.

For the current quarter, Gardner raised his revenue estimate to $5.5 billion from $4.8 billion and his earnings-per share forecast to 60 cents from 47 cents and also raised his 2006 revenue forecast to $20.4 billion from $17.6 billion along with his 2006 earnings estimate to $2.16 a share from $1.72, according to the Reuters report. For 2007, the firm predicts revenue of $24.3 billion and per-share profit of $2.61, up from the previous forecasts of $19.6 billion and $1.93. "We are becoming more convinced that Apple will introduce its first Intel-based PowerBook at Macworld San Francisco," Gardner said in a note to clients. That conference runs from January 9 to 13. Rehashing earlier reports, Gardner said these product introductions would be sooner than expected, which should help minimize the risk that Apple would end the quarter with a backlog of unsold inventory as customers anticipate the arrival of the new models.