“Shares of Apple Computer rose 2 percent on Thursday, helped by a research note from JMP Securities that said the company is ‘looking strong’ ahead of next week’s Macworld Expo in San Francisco,” Katie Marsal reports for AppleInsider.
Marsal reports, “In a note to clients, analyst Ingrid Ebeling recalled a comment made by Apple chief executive Steve Jobs this past October in which he said 2007 ‘is likely to be one of the most exciting new product years in Apple’s history.'”
Marsal reports, “For Apple’s fiscal 2008, the analyst expects Apple to report earnings of $3.18 per share on sales of $27.1 billion. ‘Our revenue estimates assume that Apple’s Mac business will grow to approximately 3 percent of the worldwide market (as estimated by IDC), or 7.9 million units, with revenue of $10.1 billion, up 9.1 percent over fiscal 2007,’ she wrote. ‘We are assuming total iPod sales of 61.3 million units, which assumes a 37 percent share of the worldwide market (as estimated by IDC) with revenue of $10.2 billion, up 7.3 percent over fiscal 2007.’ Ebeling also raised her price target on Apple shares to $94 from $84, maintaining a “Strong Buy” rating on the stock.”
Full article here.
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Gee, that’s good and all, but what the heck are these guys doing with a target of $84 when the pps is already over that? Did they just wake up from a tough hangover from New Years and say “Uh shit, we missed that price point. Better adjust our estimates, dude.”???
The mathematical models that Wall Street uses to evaluate companies simply can not handle a revolutionary company like Apple. These target values, which are suppose to predict the PPS 12 months into the future are so far off as to be laughable.
$130 the day after MWSF, mark my words….
Cheers,
Tim.