BofA: Apple had ‘good’ quarter, but we’re ‘very disappointed in iPod unit demand’

“Banc of America Securities said Apple Computer had a ‘good’ fiscal second quarter and estimates. Banc of America noted that Apple is gaining traction in systems and outgrowing the market by four times, ‘consistent with our long-term model.’ But the research firm noted that although Apple believes it gained market share in MP3 players February, Banc of America believes share gains slowed in March. ‘[W]e were very disappointed in the iPod unit demand, especially since the Shuffle had solid growth (from nothing) out of the block,’ the firm said,” Forbes reports.

Banc of America, which rates the company at ‘buy,’ added that ‘Apple’s weak unit sales mean we need to review our MP3 market estimate of 50 million units this year and 60 million in 2006.’ The firm raised the 2005 earnings estimate on Apple to $1.29 per share from $1.06, and raised the 2006 estimate to $1.40 from $1.25, but trimmed the 12-month price target to $47.50 from $48.50 on the compressed valuations of peers and ‘new concerns around the MP3 market,'” Forbes reports.

Full article here.


  1. From what I can see, the market – having over-hyped the stock to its current dizzy levels – is now actually realizing how far up they are and that it doesn’t need to go higher, for now.

  2. all this analytic fud is being created to keep apples stock from going thru the roof and embarassing all other pc makes as far as i’m concerned. if they keep the stock at a moderate price it allows them to buy more stock. good for me cause that’s just what i did.

  3. Come onnnnn, you knew it would be this way!! I mean, there’s always at least one stick in de mud!! Kind of like Janeane Garofalo is for the Dems.

    But seriously, no matter what Apple does, it’s never enough for these clowns. As others less-informed than yours truly have said, Apple could bring tabletop cold fusion to de market and these monkeys would complain that it’s “a little noisy”. Or “shouldn’t be white”. Or “weighs too much”.

    Hah — weighs too much. There I go talking about Balmer again! I can’t HELP myself!

  4. . . . oh, and of course . . . Yeh-hesssss . . .

    I POOP on him!

    Balmer. Or Ballmer.

    Ehh, tomato, tomahto. Actually, he kind of looks like one when he sweats . . .

  5. The analyst are making money out of dumping the stock.

    They sell their blocks, dropping the price precipitously as a result and then buy back tomorrow causing the price to rocket again.

    It’s either pack mentality or colusion. The latter is illegal, but I bet it is happening.

  6. uhhh…. when did BANK of America
    BANC of America

    Maybe someone should tell them to change their signs

    ” width=”19″ height=”19″ alt=”LOL” style=”border:0;” />

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