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Analysts and Investors Cheer as Apple Momentum Grows

Analysts and investors so far have responded positively to Apple's fourth quarter financial results, announced last night. Piper Jaffray analyst Gene Munster told CNN: "Apple changed paths tonight from being forever a niche player in the computer business to now being on track to be a legitimate market share player."

The company exceeded expectations in its just-gone quarter, delivering profit up 27 per cent at $546 million on $4.84 billion in revenue. Analysts had expected revenue of $4.67 billion. Apple is targeting revenue between $6 billion and $6.2 billion in the current quarter.

Apple CEO Steve Jobs predicted another great year for Apple in 2007, leading Endpoint Technologies analyst Roger Kay to tell Bloomberg: "They have a high degree of confidence in what they are doing." "This is sustainable growth and that's what the world needed to see,'' said Daedalus Capital analyst, Stephen Coleman.

There's more goodness ahead, it seems, at least according to Apple CEO Steve Jobs, who promised: "Looking forward, 2007 is likely to be one of the most exciting new product years in Apple's history."

View: Full Article @ Macworld UK

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