“Goldman Sachs initiated coverage of Apple Computer at ‘in-line,’ noting that Apple is ‘one of the few companies in tech with the ability to consistently innovate and then monetize that innovation.’ Goldman expects fiscal 2005 earnings of $1.51 per share and fiscal 2006 earnings of $1.85, with a bias to the upside on ‘multiple sources of growth coming together.’ The research firm said, ‘Specifically, we see iPod and other music-related offerings as well as software, services, and peripherals contributing over 80% of Apple’s top-line growth in fiscal 2005 and 90% in fiscal 2006,'” Forbes.com reports.
“Goldman also said that for the first time in three years, the Macintosh installed based should start to grow again with unit shipments rising 10% in calendar 2004. ‘In calendar 2005, stronger sales of Apple’s recently refreshed iMac and Power Mac desktops (off of easy comparisons), pull from the popularity of iPod, and the continued shift to notebooks should fuel unit growth of 10% compared to our industry growth estimate of 9%,’ the firm said,” Forbes.com reports.
Full article here.