J.P. Morgan ups Apple estimates, calls recent concerns over music competitors ‘overdone’

J.P. Morgan lifted March quarter and fiscal-year estimates for Apple Computer, Inc. (AAPL), saying concerns over increasingly aggressive moves by competitors in the portable music player and digital music store markets are overdone.

The broker now sees March quarter earnings per share of 24 cents on revenue of $3.23 billion, vs. its previous estimates of 23 cents on revenue of $3.17 billion.

Related MacDailyNews articles:
Apple shares take hit on Sony, Napster fears – March 08, 2005


  1. You’ll notice AAPL is hardly moving in spite of about 5 upgrades in the last week. That’s because tech – and Apple is counted amongst them – is “down” and oil/raw materials are “up”. Think of AAPL as a spring that’s coiling tighter with each upgrade, being held down by market pressure from other areas. Once that downward pressure is relieved, either by oil falling sufficiently for momentum traders to lose interest for now, or from tech companies reporting great earnings, all that unrealised momentum in AAPLE could cause the stock to snap upwards – especially with its quarterly earnings report just around the corner – only a month away now. This is *probably* a great time to buy, especially as in spite of another upgrade thiis morning, the stock fell back to its moving average at $39.5

    I bought shares of apple and doubled my money, I don’t know wether I should sell now or if I should wait till the holiday earnings report to sell.
    All I know, When I go to the malls I don’t even have time to wait on those long lines at the apple store.

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