BOA Raises AAPL Q1 Estimates

by , 12:30 PM EST, January 14th, 2008

Banc of America analyst Scott Craig thinks Apple will report another strong quarter when the company reveals its first quarter figures later in January. Healthy Mac sales following the release of Leopard helped drive those figures up, according to AFX News.

"While none of our names are immune from economic changes, we believe that Apple is less likely to be impacted by such changes due to the company's unique and diversified business model, loyal customer base and market share gains," he said.

Mr. Craig raised his first quarter revenue estimate for Apple from US$9.3 billion up to $9.6 billion with an EPS of $1.60, up from $1.52. His overall revenue estimate for fiscal 2008 is up, too, from $30.7 billion to $31.7 billion with and EPS of $5.04, up from $4.87.

Mr. Craig is maintaining his "Buy" rating and $200 target price for Apple's stock. Apple is currently trading at $176.70, up 4.01 (2.32%).

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