Banc of America Securities raised estimates and the target price on Apple Computer, citing strong demand for new products. Banc of America said demand for the iPod shuffle ‘is significantly stronger than we anticipated’ while ‘Mac mini product availability has been scarce,'” Forbes reports.
“The research firm raised the unit sales estimate for the iPod shuffle to 1.2 million units for the quarter ending in March from 700,000, although ‘our sense is actual results could be higher.’ Banc of America sees Apple selling 200,000 Mac mini units with production ramps keeping the number ‘below 250,000,'” Forbes reports. “The firm raised the fiscal second-quarter estimate to earnings of 44 cents per share from 40 cents, raised the fiscal 2005 view to $2.11 from $1.87, and raised the fiscal 2006 view to $2.50 from $2.16. Banc of America raised the target price on Apple to $97 from $85 and maintained a ‘buy’ rating.”
MacDailyNews Take: If correct, due to ramp up of Mac mini production, the really important Mac mini numbers will come in the 3rd and, of course, 4th (Christmas) quarters, not the current one.
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Banc of America analyst estimates 900,000 Apple Mac mini units to be sold in 2005 – February 25, 2005