Log in to your IBTimes Account

close
ID
Password

Apple Rallies on Strong March Outlook



By Daniel Jacobs
21 February 2007 @ 11:47 am EST

Apple Inc. (Nasdaq: AAPL) shares rallied on Wednesday after Prudential Equity Group raised its earnings estimate for the firm's current quarter, expecting strong computer sales as well as lower parts costs.

Related Topic

Get stories by e-mail on this topic.

  • apple earnings outlook | RSS
E-mail:
Quotes
aapl 159.98 -1.24

SYMBOL LOOKUP

Shares of the firm were up 3.34 percent, or $2.87, to $88.77 in mid-day trading on the Nasdaq Stock Market.

After meeting with Apple senior management and industry contacts within the Mac and iPod supply chains, research analyst Jesse Tortora of Prudential raised his FY2007 estimates to $3.40 per share, up 6 cents from previous projections.

Prudential expects seasonal iPod weakness but expects that to be offset by stronger Mac computer sales, as well as a favorable component cost environment.

"The company believes that Adobe’s launch of Creative Suite 3 in Q2 will lead to higher sales for both MacPro and MacBook Pro," Tortora told clients in a note this morning.

Tortora also said that Apple will sell its upcoming iPhone only on its web sites, Apple Stores, and Cingular shops. He expects a majority of iPhone sales to occur in Apple’s stores because he says consumers will want Apple to demonstrate the device's features.

This article is copyrighted by International Business Times.

    Click!
  • Rate this article:

Comments
1.
February
21st, 2007
5:41pm

What about iTV or its new operating system how will that affect its market value. Does apple have a plan that will make consumers shell out 500 bucks for a highly sensitive phone

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register


advertisement
More Global Markets
Gold prices rode wildly, and over a wide, near-$30 range in the time elapsed since yesterday at this time. On the very anniversary of the jobs report tha...
Wall Street fell for a second straight session Friday following a worrisome reading on the nation's job market, but stocks pulled off of steep losses as ...
Agriculture futures traded lower Friday on the Chicago Board of Trade. Wheat for December delivery fell 31.5 cents to $7.455 a bushel; December corn fell...

Advertisement
Corporate Website Design

Professional Website Design For Corporate - Get a Free Quote Today

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives