“Prudential Equity Group raised estimates and the price target on Apple Computer, citing ‘stronger-than-anticipated iPod sales’ and ‘marginally better’ sales of the Macintosh platform. Prudential said, ‘We expect strong earnings and positive news flow from potential new product announcements including a new flash-based iPod, enhanced value proposition from the iPod mini, and a ‘headless iMac.’ Such products are not factored into our new estimates.’ The research firm said it sees ‘room for upside” to consensus estimates for Apple, but suggested looking for an entry point in the shares after Macworld and the fiscal first-quarter earnings report,” Forbes reports.
“The firm raised the first-quarter estimated iPod shipments to 4.25 million units from 3.35 million units. It sees shipments of 15.0 million iPod units and 22.5 million units in fiscal 2005 and 2006, respectively. Prudential said, ‘We believe that the iPod story has legs, and having reached critical mass, is capable of moving both the revenue and earnings needles materially,'” Forbes reports.
Full article here.
MacDailyNews Take: That’s a lot of anything and each iPod that’s out there already plays for sure.