APPL Hits New 52-Week High as UBS Increases Q2 Estimates

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UBS has raised earnings estimates for Apple Computer, Inc. to 45 cents a share from 41. The new estimate predicts a 67% increase from the year ago-quarter, for a revenue of US$3.19 billion. MarketWatch quotes the report: "Our checks indicate that the new Mac Mini & iPod Shuffle are being well received & that current shortages will likely be alleviated next month."

The report also predicts that software revenue will top $1 billion. This estimate relies heavily on the timely release of Mac OS X Tiger, version 10.4.

Meanwhile, AAPL has sailed to a new 52-week record, trading as high as US$83.49 this morning.

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