“Piper Jaffray raised estimates and the price target on Apple Computer (AAPL), citing a “halo effect” from satisfaction from users of Apple’s iPod,” Forbes reports. “Piper Jaffray said that in a survey of 200 users, 6% were former PC users who have purchased a Macintosh after buying an iPod, while 7% were former PC users who plan to buy a Macintosh within 12 months.”
[MacDailyNews Note: Piper analyst Gene Munster also reported that about 30% of Apple specialist resellers believed that the company’s quarter was tracking above expectations, while 70% thought the quarter was in line with expectations.]
“‘We believe that the remarkable satisfaction with the iPod creates a word-of-mouth wildfire that generates new customer interest in Apple products,’ Piper Jaffray said. The research firm raised the 2005 estimate to earnings of $1.52 per share on revenue of $11.5 billion, from earnings of $1.29 per share on revenue of $10.4 billion. Piper Jaffray raised the 2005 estimate to earnings of $2.17 per share on revenue of $13.8 billion, from earnings of $1.50 per share on revenue of $12.0 billion. The firm, which rates Apple at ‘outperform,’ raised the target price to $100 from $52,’ Forbes reports.
Full article here.
MacDailyNews Take: If this survey’s results are accurate, this is the beginning, folks. Moo.