Yesterday Apple Computer reported its highest fourth-quarter sales in the past nine years for 4Q FY04, while the company’s quarterly profits more than doubled on a year over year basis.
Analysts at Needham & Co today reiterated their “buy” rating on Apple Computer. The target price has been raised from $36 to $43. “Clearly, Apple has taken over the digital music market.” Charlie Wolf, analyst, Needham & Co. stated.
Analysts at JP Morgan today upgraded Apple Computer Inc. from “neutral” to “overweight,” while raising their estimates for the company. Despite the recent rally, Apple Computer’s share price is likely to appreciate significantly in the forthcoming few quarters, the analysts say. The company’s revenues are expected to increase by 25% during FY2005, JP Morgan added. The EPS estimates for FY2004 and FY2005 have been raised from $0.66 to $0.75 and from $1.00 to $1.28, respectively.
Analysts at First Albany today reiterated their “buy” rating on Apple Computer Inc. The target price has been raised from $44 to $46.
MacDailyNews Take: Up, up, and away we go!
still kicking myself for not buying but telling my father in law to buy! He did and he’s psyched. Now all I have to do is to convince him to buy a Mac a trash his virus filled PC!
Stupid analysts. Why do they wait until a stock goes up by 20% before recommending that you buy? Why, at the peak of the greatest stock mania in modern financial history, were only 3% of analysts’ recommendations to Sell?
Morons.
Of course, I think they’re right about AAPL, but I think investors would rather have heard that BEFORE the earnings report. Don’t these guys even do any research any more?
Right on. If these guys were such experts, they would have predicted all of this long before now. The horse is out of the barn now. What happened to their 18 cents/share estimates before yesterday? Hell, Apple has routinely shattered the anal-ysts estimates every quarter lately. These guys are a joke.
because the analysts tell you to buy because that increases it even moreso.
Never buy stocks when everyone else is buying them…
Academic analysis of market analysts shows a success rate of 48% on their predictions, ie they get it wrong more often than they get it right or put another way you’re better off sticking a pin in the list.
To be fair, the analysts use Apple’s guidance during the financial conference call to base their estimates on. So, if they missed the 2 million iPods being shipped, so did Apple in its guidance.
Ha! Bought 150 shares at roughly $39 the day BEFORE the earnings report. Easiest $750 I’ve ever made.
how my 3 shares at $18 have blossomed
i thought analysts were supposed to tell u stuff before it happens?
macbeth..
HAHAHAHAHAHAHAHHAAHHAHA
Amen