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 July 30th

Wed,7:03 PM
New iPhones: Now With Less Sapphire
5:55 PM
What Amazon Didn’t Say in Its Blog Post about Hachette
4:16 PM
Apple Releases Fixed Version of MacBook Air EFI Firmware Update 2.9
3:45 PM
OS X Yosemite: How to Turn Translucency Off or On
1:43 PM
TMO Daily Observations: 2014-07-30
11:26 AM
Apple May Have Accidentally Leaked New 27-inch iMac
10:00 AM
Apple Confirms Purchase of Swell Talk Radio App for iPhone
8:45 AM
iOS 7: Preventing Unauthorized Purchases
Tue,11:02 PM
Apple Possibly Leaked New Mac mini Models
8:57 PM
Ford Ditching BlackBerry for iPhone for Global Corporate Use
6:04 PM
‘Window Plug’ Portable Solar Charger Concept Design
4:19 PM
MotionArtist for Mac: $9
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!