As Apple celebrates its thirtieth year as a company with news of scoop signings for its iTunes Music Store, analysts have reduced their estimates for the company's second quarter gains.
Analysts at UBS, Lehman and Standard & Poors have all reduced their assessment on the company's stock.However, Apple stock is shooting up in value this morning as investors consider the significance of Apple's newly-announced dual-boot Windows/Mac technology, "Boot Camp".
American Technology Research analyst Shaw Wu expects the new software to propel growth for Apple, and suggests: "With support for both EFI and BIOS for booting, we believe Microsoft Vista will also be supported on a Mac."
Wu tells investors: "We see the release of Boot Camp as an incremental negative for HP, Dell, and other PC makers," the analyst repeated his "Buy" rating on Apple's stock with a $101 price target.
While maintaining a 'buy' rating on the stock, UBS analyst Ben Reitzes warned of potential weakness in iPod sales, but accepts the company may reach the $4.3 billion in revenues in the quarter it is targeting.
Looking forward the analyst observed: "Given seasonality & the Mactel transition, we expect Apple to issue conservative guidance for fiscal third/'June' quarter."
Lehman Brothers cut its price target on Apple stock from $73 to $80. It described the firm's own research, which showed weakness in Mac and iPod sales in the quarter.
Standard & Poors reduced its target on the stock to $68 from $83, again positing slow sales.
Apple shares closed at $61.17 on trading last night. It's gained over $4 on trading today and now stands at $65.41.