“First Albany raised its earnings and sales forecasts for Apple Computer (AAPL) as higher sales from its new Tiger operating system and increased assumptions for iPod are expected to offset lower [Mac mini] sales,” Tomi Kilgore reports for MarketWatch.
First Albany analyst Joel Wagonfeld raised his fiscal third-quarter earnings estimate from 29 cents a share to 34 cents and his revenue forecast from $3.3 billion to $3.4 billion.
Kilgore reports, “Wagonfeld assumes about 2.8 million Tiger copies were sold during the third quarter, increased his iPod sales forecast to 5 million units from 4.25 million, but cut his Mac-Mini forecast to 250,000 units sold from 400,000. He reiterated his buy rating and established a 12-month price target at $44.”
Full article here.
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