Smith Barney analyst Richard Gardner today raised his 2005 and 2006 earnings estimates for Apple, and lowered his rating on the company’s stock to “hold” from “buy,” reports CBS Marketwatch. “Gardner lifted his 2005 earning forecast to $1.75 a share from $1.58 and took up his 2006 profit target to $2.11 from $1.93 due to the outlook for iPod and iMac sales,” notes the report.