BofA analyst: Apple video play an ‘evolutionary opportunity,’ 9.3m iPods to be sold this quarter

“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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Note: Shares of Apple Computer (AAPL) are currently trading at $53.45.

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American Technology Research upgrades Apple to ‘buy,’ $63 target, estimates 9.4m iPods this quarter – October 17, 2005
Apple has the potential to change not just the audio industry, but the whole entertainment industry – October 17, 2005
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New York Times writer can’t think different: ‘video iPod may not be ready for prime time’ – October 17, 2005
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Forrester Research: Apple transformed music distribution, now it is doing the same for video – October 14, 2005
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Apple’s new iMac G5, iTunes 6, iPod video designed to bait Hollywood – October 13, 2005
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Analyst: Apple has just produced ‘the tipping point’ for entertainment content – October 13, 2005
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10 Comments

  1. Agreed IT guy. These analyst were just disappointed because they had their heads in the clouds recenty and now it sounds like they learned nothing. I would love Apple to sell that many, but I am not sure it will happen that quickly.

  2. These “experts” should keep their yaps shut. They have no idea what they are talking about, witness the fact that the stock dropped 10% AFTER THE BEST FINANCIAL QUARTER IN THE HISTORY of the company. Just because some idiot analysts thought the company should have sold 7.8 million iPods instead of the 6.5 million that were actually sold. Idiots. This group is a mindless herd.

  3. a lil over zealous with such broad predictions! I’m not praying apple doesn’t sell even more than that! but I hate how these ANALyst always bring alot of hype and make apple look bad when the have the best quarter in the company’s history I mean it’s mind bloggling!

  4. ‘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.

    Thanks, Captain Obvious. I think analysts who predict 9.3 million unit sales are in the early phases of long-term dementia.

  5. Bass Ackwards: Precisely the meaning of B of A.
    Although BofA and some others are idiots, it’s not true of all analysts.
    Piper Jaffray’s Gene Munster, for example, has lead the way with very good analysis of AAPL for a number of years.

  6. Why does anyone think Apple would sell any less than 9.3 million iPods. They’ve just gone through a major product refresh with radically improved models AND they’re entering the holiday quarter with the accepted standard in their market with more retail outlets than ever. Why would they have less than 50% growth? While it’s possible this could be a disastrous holiday season for everyone, I think 9.3 million iPods is a conservative estimate by any way of thinking. iPod sales have grown by more than 50% in previous holiday quarters. Please justify extremely pessimistic estimates.

    MW: doubt. I doubt sales will be flat with a major product refresh in the quarter with the dramatically highest consumer spending.

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