Apple to shine through PC market gloom – analyst
This time, the AAPL news is good
Apple will defy the PC industry downturn, market analysis firm Goldman Sachs has claimed.
The company reckons that Apple's new product line-up - a reference to the rumoured upcoming next-generation iMac, we wonder - will boost the value of AAPL shares by 25-30 per cent through the second half of the year.
Apple's shareprice has been hit by Wall Street's latest downer on hi-tech stock, driven by the downturn in the PC market. That unease led analyst IDEAadvisor to claim that the outlook for Apple isn't so hot and that the Mac maker may be forced to issue a profits warning before it completes its current, third fiscal quarter, which ends this month.
By contrast, Wall Street reckons Apple will post a profit of 16 cents a share for the three months to 30 June. Last quarter, Apple posted earnings of 12 cents a share, amounting to $43 million. Q3 2000 saw earnings of 120 cents a share. ®