AAPL- Upgraded Again
Written on November 29, 2004 by Brendan Byrne and No one has commented
Two financial institutions have raised their target prices for Apple stock. Merrill Lynch, stating that they are expecting an increase in iPod sales in the December quarter, 4 million up from 3.5 million, and 12.9 million for fiscal 2005 up from 10.7 million, raised target share prices to $78/share from $61/share, and also raised earnings per share from $1.38 to $1.45. Financial firm UBS, noting a survey of U.S. retailers showing a strong demand for higher end iPod photo and iPod mini as well as iMacs and accessories, raised target share price to $77/share from $66/share. This is, of course, good news for Apple investors.
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