While previewing Apple's fiscal first quarter earnings due next week, investment bank Citigroup reduced its estimates on the electronics maker and said a sharp reduction in iPhone shipments could signal a refresh as early as April.
The first shipments of Apple's next-generation 13-inch MacBooks have left China ahead of a large-scale manufacturing ramp scheduled for later this month, according to investment bank Citigroup.
Having digested Apple's iPhone 3G announcements from Monday, analysts at both Citigroup and Lehman Brothers have sharply raised their 12-month price targets for the electronics maker.
Following overseas meetings with members of the Taiwanese PC and consumer electronics supply chain, analysts for investment bank Citigroup said they have high convictions that Apple intends to roll out a 3G iPhone during the second quarter of the year.
Shares of Apple Inc. received a slight boost Monday morning after investment bank Citigroup added the company to its "Top Picks Live" list and reiterated a Buy rating on the badly beaten stock.
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Katie Marsal
