Shares of Apple Computer (AAPL) are up $4.35, or 6.74%, to $68.90 per share on heavy volume of 24,912,671 in afternoon NASDAQ trading ahead of next week’s financial earning reports and Steve Jobs’ Macworld Expo keynote. Apple’s 52 Week High stands at $69.57 and was set on 11/29/2004.
“First Albany Securities analyst Joel Wagonfeld raised his first-quarter earnings estimates on the company to 50 cents a share from 47 cents. Like many Wall Street watchers, Wagonfeld said an upbeat view of iPod sales is behind his earnings revision. ‘We expect consensus estimates (for 2005) to take another step function forward, which should enable further (share) appreciation,’ Wagonfeld said, in a research note. Many investors and industry officials expect a positive report from Apple when it delivers its results on Jan. 12. ‘Expectations are running high, as we think investors may be anticipating 4.5 million to 5 million iPods (sold),’ Wagonfeld said. Such numbers would be close to double the 2.7 million iPods Apple said it sold in its 2004 fourth quarter,” Rex Crum reports for CBS MarketWatch. Full article here.
NASDAQ Apple quote (15-minute delay) here.