Appleis stock jumped more than 7% Friday, helped in part by positive comments from First Albany Securities analyst Joel Wagonfeld. Mr. Wagonfeld raised estimates for Appleis fiscal 1st quarter, the December quarter, to 50 cents a share, up from 47 cents, according to a report from CBS Marketwatch.
Apple reports results for the quarter on Wednesday, January 12th.
Looking forward to 2005, Mr. Wagonfeld said in his research note, "We expect consensus estimates to take another step function forward, which should enable further appreciation."
Appleis stock closed today at 69.25, a gain of 4.70 (+7.28%) on very strong volume of 39.7 million shares trading hands.