Apple Inc. (AAPL) shares rose $7.12, or 4.4%, to close at $168.16 after RBC Capital Markets analyst Mike Abramsky raised his target price on Apple’s stock to $190 a share from $175,” Rex Crum reports for MarketWatch.
Abramsky “expects the company to exceed Wall Street analysts’ estimates when Apple reports its second-quarter results on Wednesday,” Crum reports.
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MacDailyNews Note: The analysts’ consensus estimates for Q2 08 are $1.07 EPS on $6.95 billion in revenue vs. Apple’s guidance of $0.94 EPS on revenue of “about $6.8 billion.” For Q3 08, analysts expect $1.10 EPS on $7.14 billion in revenue. Apple reports this Wednesday, April 23, at 2pm PDT / 5pm EDT.