“Shares of Apple Computer Inc. rose to a record after analysts said faster Macintosh computers and low-priced iPod players will spur holiday sales, and that a new music phone may buoy revenue next year,” Connie Guglielmo reports for Bloomberg.
Guglielmo reports, “Mac and iPod shipments may reach record highs this quarter, said UBS AG analyst Benjamin Reitzes, who today raised his profit estimate for the period to 80 cents a share from 78 cents. Analysts on average expect 77 cents. He foresees Mac sales of 1.8 million units and iPod sales of 16.6 million.”
“The shares, which had gained 25 percent this year before today, climbed $2.27 to $91.81 at 4 p.m. New York time in Nasdaq Stock Market composite trading. The previous record high of $91.63 was set Nov. 24,” Guglielmo reports.
“Analysts said they expect Cupertino, California-based Apple to top last year’s holiday shipments for Macs and iPods in the quarter ending Dec. 31, fueled by sales through Apple’s 170 retail stores. Apple sold 1.25 million machines and a record 14 million players a year ago,” Guglielmo reports. “Charles Wolf, of Needham & Co. Inc. in New York, said Jobs may surpass his estimate of 1.8 million Macs and 17 million iPods, judging by traffic at the company’s New York store on Fifth Avenue on Nov. 24, the day after Thanksgiving.”
Full article here.
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