Analysts continue offering positive predictions for Apple's fortunes, with analyst First Albany again raising its earnings estimates for the company.
Analyst Joel Wagonfield this morning increased his 2005 earnings estimate on the company to $1.35 per share from $1.17, also raising his revenue forecast for the company to $10.8 billion from $10.2 billion. The analyst also issued a revised price target for Apple stock - from $53 per share to $61. He rates the stock a buy, according to CBS Marketwatch.
In a note released to clients, he spoke of the firm's "belief" that Apple will benefit in the coming months from the popularity of iPods and iMacs, continued success in Apple's expanding retail sector and "higher visibility among customers and investors".