Analysts at Morgan Keegan and BMO Capital Markets raised estimates on Apple stock this week, though US financial and employment concerns continue to hammer tech shares.
Morgan Keegan analysts yesterday issued fresh advice to clients, maintaining their 'market perform' rating on the stock and raising estimates for the firm. They predict Apple will return 33 per cent revenue growth for the current quarter, driven by growth in all its markets, and an increase in profitability on its iPods.
The analyst note that low memory prices should also help Apple return high margins on its products, offering an earnings per share estimate for the firm of $5.29, up $0.29.
Over at BMO Capital Markets, the analysts rate Apple stock as a 'market outperform', raising their target price on the company stock to $200 from $205.
Apple's stock price currently stands at $178.02.