Tag: aapl

Apple on Wednesday posted a net profit of US$290 million, or 34 cents a share, for its fiscal 2005 second quarter ended March 26, 2005. These results compare to a net profit of $46 million, or 6 cents per share, in the year-ago quarter. Revenue for the quarter was $3.24 billion, up 70 percent from the year-ago quarter. Analysts surveyed by Thomson First Call estimate that Apple will earn 24 cents a share on $3.25 billion in revenue.

Shares of Apple dropped Tuesday on concern of Sony’s new MP3 players and increased competition from subscription services from Napster and others. The stock was down $2.22, or more than 5 percent, to $40.53.

Shares of Apple (AAPL) rose to an all-time high Tuesday after Merrill Lynch analyst Steven Milunovich lifted his target price on the stock to US$102 from $85 and speculated that the company may partner with Sony on future products. Apple shares rose $3.78, or 4.5 percent, to $88.41. On Monday, UBS analysts also increased their estimates for Apple.

Following better than expected earnings, shares of Apple (AAPL) rose nearly 12 percent in after-hours trading Wednesday. The company’s shares were trading at US$73.22 as of 6:00 p.m. ET, up from its close of $65.46 in regular session trading.

Apple shares have climbed more than 6 percent today amid speculation of new products at Macworld Expo and further analyst anticipation about upbeat quarterly results driven by iPod sales. Apple rose US$4.15 to $68.65 after First Albany Securities analyst Joel Wagonfeld raised his first-quarter earnings estimates on the company to 50 cents a share from 47 cents.

It was a good year for Apple investors. The company’s stock ended 2004 up 201 percent thanks to the success of Apple’s iPod. Other companies having standout years include Kmart (up 313 percent), Google (more than doubled in value after its IPO), and Starbucks (up 88 percent).

Shares of Apple fell nearly 4 percent on Friday after Needham & Co. analyst Charles Wolf lowered his investment rating on the stock to “hold,” saying much of the potential upside to its business is reflected in the current stock price. “For valuation reasons, we’re downgrading Apple from Buy to Hold,” Wolf wrote in a note to clients.

Apple shares surged more than 14 percent to US$64 in early trading Monday after Piper Jaffray raised its price target on the stock to $100 from $52, citing bullish expectations for iPod sales (see previous report). Separately, Fulcrum Global raised its target to $65 from $53, forecasting strong demand for iPods and iMac G5s. Apple shares were last up nearly 13 percent at $62.10.

The San Jose Mercury News reports that seven insiders at Apple sold more than US$73 million in stock last month. So far this year, 10 executives have sold $229 million in company shares. Senior Vice President of Hardware Engineering Jonathan Rubinstein had the largest gain. He exercised options to buy 500,000 Apple shares for $17.31 each October 1. The same day he sold those shares for prices ranging from $38.61 to $38.98 each, for a gain of $10.7 million.

Shares of Apple (AAPL) climbed as high as US$54.77 in early trading today after Pacific Crest Securities analyst Steve Lidberg raised his target price on Apple to $63 a share. Lidberg’s increase was due to a 2006 earnings estimate of $1.65 a share, improved shipment times for the iMac G5 and the upward look for Apple’s margins over the next two years. Read More

Forbes reports that shares of Apple (AAPL) gained more than 35 percent in October, and are up 145 percent for the year. The stock got a boost from Apple’s fourth-quarter earnings report, which showed net income doubled to US$106 million.

Shares of Apple (AAPL) continued to climb Thursday, gaining another US$1.89 to close at $52.19. Apple stock has doubled since January, and is up 25 percent just this month. Yankee Group senior analyst Mike Goodman attributes the increase to the success of the iPod. “They’re riding the iPod wave,” Goodman said.