Banc of America lifts earnings, revenue estimates for Apple
Posted by Dennis Sellers 
Jan 14, 2008 at 11:49am
Shares of Apple Inc. gained in pre-market trading Monday after Banc of America raised earnings and revenue forecasts, citing particular strength in CPU sales after the introduction of the Mac OS X 10.5 (“Leopard”) operating system, according to Thomson Financial.
Analyst Scott Craig lifted his fiscal first-quarter earnings forecast to US$1.60 a share from $1.52 a share, and his revenue estimate to $9.6 billion from $9.3 billion. 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. The stock was trading up 0.8 percent at $174.10 ahead of Monday’s open.
“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.
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
