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 December 18th

Thu,2:07 PM
The Story Behind Apple’s ‘The Song’ Commercial (Video)
1:43 PM
TMO Daily Observations: 2014-12-18
11:29 AM
iOS 8 Mail: Customizing Swipe Gestures
9:08 AM
Apple Raises $20M in 2014 Product (RED) Campaign
Wed,5:50 PM
Hit List 2.0 Task Manager Checks Off Syncing, iPhone 6 Interface
5:44 PM
ACM 285: Apple’s iPod Lawsuit Victory and Tag Heuer’s Smart Watch Plans
5:20 PM
STM Harbour iPhone 6 Case is Colorful, Lightweight and Inexpensive
5:16 PM
Register for TMO’s Apple Watch Giveaway
4:15 PM
Apple Pay: a List of Brick-and-Mortar Stores That Accept it
1:13 PM
TMO Daily Observations: 2014-12-17
11:32 AM
Netflix Says Offline iPad Viewing Not Going to Happen
9:48 AM
Falling Ruble Ruins iPhone Christmas in Russia
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!