First Albany raises estimates on Apple ComputerAccording to analyst firm First Albanys research note published this morning, iPod sales are expected to regain momentum by the September quarter.
The analysts mention that the company is poised for robust near term unit growth in its iPod Mini and iTunes products in the European market. Moreover, First Albany expects Apple Computer to benefit considerably from its summer launch of the HPod (Hewlett Packard iPod) product in the forthcoming quarters.
First Albany also expects the company to resolve its issues with iPod supply constraints by the September quarter (the end of Apple's fiscal year).
While First Albany renewed its "neutral" rating on Apple Computer, EPS (earnings per share) estimates for FY04 and FY05 have been raised from $0.61 to $0.65 and from $0.72 to $0.88, respectively. The P/E (price/earnings) estimates for FY04 and FY05 are 50.6x and 37.4x, respectively.
On Topic: General
- Samsung unveils 512GB postage stamp-size NVMe SSD, could see use in MacBook
- No warrant needed to obtain location data held by cellphone carriers, US court rules
- Facebook working on optional end-to-end encryption for Messenger
- Square pushes Apple Pay contactless reader with new $1/week installment plan
- Prospect of Indian Apple Stores still on the table, minister says