“Merrill Lynch raised its target price and fiscal year 2005 and 2006 estimates for Apple Computer, saying it expected the company to sell 4 million iPods in the December quarter, up from 3.5 million and 12.9 million for fiscal 2005 up from 10.7 million. The broker upped its target share price to $78 from $61 and raised its fiscal year 2005 earnings per share estimate to $1.45 from $1.38,” Madeleine Acey reports for CBS MarketWatch.
Merrill now expects $1.80 earnings per share for 2006, up from $1.71.
In addition, Merrill told investors to look out for a flash memory-based iPod from Apple in the first quarter and other possible exciting products such as an entertainment server.
Full article here.
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