Banc of America Securities raised its target price on Apple to $97 from $85 and upped its second-quarter and fiscal 2005 estimates Friday.
Citing "significantly stronger than anticipated" sales of the iPod shuffle, the firm raised its second-quarter earnings estimates to 44 cents per share from 40 cents, and increased its fiscal 2005 view to $2.11 from $1.87. Fiscal 2006 estimates were also raised to $2.50 from $2.16.
Banc of America expects Apple to ship 1.2 million iPod shuffles for the March quarter, with sales of the Mac mini coming in around 200,000 due to manufacturing constraints.
No Comments
Add your comment