Banc of America, RBC Capital raise Apple Inc. estimates on massive holiday Mac sales

Banc of America has raised earnings and revenue forecasts for Apple Inc., “citing particular strength in CPU sales after the introduction of the Leopard operating system,” Tomi Kilgore reports for Thomson Financial News.

“Analyst Scott Craig lifted his fiscal first-quarter earnings forecast to $1.60 a share from $1.52 a share, and his revenue estimate to $9.6 billion from $9.3 billion,” Kilgore reports. “Craig’s fiscal 2008 earnings projection was raised to $5.04 a share from $4.87 and his revenue outlook was lifted to $31.7 billion from $30.7 billion.

“He reiterated his buy rating and $200 price target,” Kilgore reports. “‘While none of our names are immune from economic changes, we believe that Apple is less likely to be impacted by such changes due to the company’s unique and diversified business model, loyal customer base and market share gains,’ Craig said in a research note.”

Full article here.

Notable Calls reports, “RBC Capital notes fresh data from RBC’s Technology Adoption Panel (4,600 respondents) and store checks suggests Apple saw massive Mac sales in the holiday quarter (Q1/08 end Dec, reporting Jan 22), despite concerns over consumer holiday spending growth. Firm estimates 2.5M Mac were shipped Q1 (2.4M prior), up 14% Q/Q and 54% Y/Y, breaking the record 2.2M Q4.”

RBC Capital has upped the estimates for Apple Inc., to F08 $32.8B and $5.11 EPS ($32.7B and $5.08 prior). F09 ests becomes $40.6B and $6.23 EPS ($40.4B and $6.19 prior), Notable Calls reports. The firm has reiterated their “Outperform” raitng with a $215 target.

Full article here.

MacDailyNews Note: Apple (AAPL) iss currently trading up $4.95, or 2.7%, at $177.64 per share.

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