Glad I upped the ante.... as I suspected, the selling was a setup.
What a joke. CSFB's price target was $40. AAPL hasn't seen $40 in months. And I expect it will briefly see their new price target of $70 within a month or less, and not look back.
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AAPL Apple Computer ests raised, tgt upped to $70 from $40 at CSFB-- Update --
CSFB out positive on AAPL, saying that with this season's hottest CE product and a new product cycle in its flagship iMac, Apple is poised to significantly exceed its initial December qtr outlook issued on its fiscal 4Q conference call in October. Firm estimates Apple's F1Q05 results will reach $3.3 bln in sales and $0.55 in EPS. They believe Apple will ship 4.8 mln iPods in the December qtr and will once again exit the qtr with a substantial backlog, mostly in international locales. In addition, they believe Apple will gain share in the PC mkt this qtr, expecting unit shipments to increase 21% yoy versus mkt growth of 9-10%. Firm raises FY05 rev and EPS to $11.9 bln and and $1.49 from $10.1 bln and $1.17, respectively. FY06 rev and EPS ests are upped to $13.6 bln and $1.83 from $11.3 bln and $1.40. Price tgt is raised to $70 from $40.
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AAPL Will Apple flash iPod rock the mkt? - CNET (62.72 )
CNET discusses Apples new flash iPod, which seems to hit mkts very soon. Dan Torres, Rio's VP, sees a flash iPod as a fait accompli, noting that suppliers in Asia have said Apple has been making purchases consistent with the development of a flash music player. "We've been monitoring this for a while," Torres said. "We believe that it is not a rumor; we believe it is very true." Apple is widely expected to announce a flash iPod at Macworld in Jan. But for now, the co has declined to comment. Financial analysts predict Apple would sell millions of flash iPods in short order. Bear Stearns analyst Andy Neff predicted earlier this month that Apple will sell 6 mln units in the current FY and 13.5 mln the following year. Looking ahead to next year, Neff forecasts Apple may be able to grab 30% of the 34 mln players that IDC ests will sell next year.
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