The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Merrill's Milunovich Ups Apple iPod Sales, Earnings

TMO Reports - Merrill's Milunovich Ups Apple iPod Sales, Earnings

by , 7:00 AM EST, November 9th, 2004

Merrill Lynch analyst Steven Milunovich raised his projections on Apple iPod sales for the calendar fourth quarter late Monday and also raised his estimate on Apple's overall revenue.

Mr. Milunovich now believes the company will sell 3.5 million iPods in the holiday quarter. That is a jump from 2.7 million he predicted on October 25.

"Whereas the older generation still thinks it strange to own a Mac, the younger generation may consider Apple a core brand for their digital lifestyle," he wrote to clients. "That would allow the company to introduce successful new consumer products over time."

In addition, the Wall Street analyst raised his estimate for revenue in the quarter to US$3.2 billion from $2.95 billion and now sees earnings per share at 45 cents. The broker lifted its target price on the stock to $61.

Apple stock (AAPL) closed Monday at $54.38, down 34 cents, or .62%, on volume of 9.4 million shares. In the last two weeks, the stock has reached a high of $56.11 for the first time in four years.

Recent Headlines - Updated May 22nd

Wed,3:10 PM
How to Deauthorize All Devices in iTunes 12
Fri,3:29 PM
Blur Premium Privacy Protection Lifetime Subscription: $49.99
2:55 PM
Apple May Finally Be Ready to Reinvigorate the iPad
2:39 PM
Google Study Finds ‘Security Questions’ Next to Useless
1:08 PM
TMO Daily Observations 2015-05-22: Fingerprints to Google and Apple Watch Heartrate Monitoring
11:16 AM
Apple Watch OS Update Reduces Background Heart Rate Monitoring Frequency
10:10 AM
Apple’s App Store Needs Cold Storage
8:30 AM
Apple Watch: Three Tips on Contacting Your Pals
Thu,5:44 PM
Promotional Apple II Video with Steve Jobs, Steve Wozniak, Byte Shop
4:47 PM
Google Reportedly Plans to Fingerprint ID to Android M
4:09 PM
The Pick Your Own Apple Toy Giveaway
3:55 PM
Three Easy Ways to Get Started With Home Automation
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!