Tag: merrill_lynch

Merrill Lynch has raised its iPod projections for unit sales to 3.5 million from 3 million in the December quarter, reports CBS Marketwatch. In addition, the investment firm raised its price target on Apple stock to US$61 and lifted its estimates for revenue in the quarter to $3.2 billion from $2.95 billion and now sees earnings per share at 45 cents.

Merrill Lynch has raised its price target on Apple shares to US$49 from $44 following the company’s positive fourth quarter earning results announced yesterday. Apple’s positive earnings in the quarter “was entirely in iPods as Mac sales suffered from continued shortages of the G5 chip from IBM,” Merrill said.