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
- Apple invents stylus capable of simulating onscreen textures through haptic feedback
- Samsung profits drop as mobile arm suffers 37.6% crash in Q2
- Apple's Campus 2 headquarters to feature visitor center with observation deck, store
- Windows 10 launches to favorable reviews, cautions about bugs and feature gaps
- Nokia debuts Ozo 360-degree VR camera for professional filmmakers