“Banc of America Securities Chief Financial Analyst Keith Bachman maintained a ‘buy’ rating and $52 price target on Apple Computer after testing the new video downloading features of iTunes 6. ‘We continue to believe that Apple’s iPod video will be an evolutionary opportunity, not revolutionary,’ Bachman said. ‘Apple had more content and more competitive advantage in the music market as compared to the video market… We suspect we will see strong sales in the fourth quarter, given the buzz over the product, and follow-on sales will depend on the breadth of content,’ said Bachman.,” Maya Roney reports for Forbes. “He estimates that Apple will sell 9.3 million iPod units in the fourth quarter and 29 million units in fiscal 2006. ‘We think Apple is in the early phases of a long term plan to grab a strategic position on the distribution of mobile video content,’ said Bachman.
Full article here.
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