Zacks issues ‘Buy’ for Apple Computer, Inc.

Zacks.com has announced #2 Rankings (Buy) on Apple Computer, Inc. Zacks writes:

Apple Computer, Inc. (NASDAQ: AAPL) designs, manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Last week, Apple Computer reported a strong fiscal third quarter performance, which included net profit of 17 cents per diluted share, excluding a charge. That result more than tripled the year-ago performance while exceeding the consensus by more than +21%. It also marked the sixth consecutive quarter with earnings per share above Wall Street’s expectations. In addition, revenue in the quarter reached $2.01 billion, which was up +30% from last year. During the quarter, Apple shipped 876,000 Macintosh units and 860,000 iPods, marking year-over-year advances of +14% and +183% respectively. Earnings estimates for the year ending September 2004 are above levels from three months ago by 5 cents, or about +8%, including a rise of 3 cents, or approximately +5%, in the past seven trading days. Apple is one of the biggest innovators in its space and continues to have a lot of potential for the future, so investors may want to consider taking a bite out of this company.