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Merrill Lynch Raises Apple's Q1 Earnings Estimate

Time: 17:44 EST/22:44 GMT | News Source: Mac Observer | Posted By: Erick Cordero

Merrill Lynch analyst Steven Milunovich raised his estimates on Apple Computer (AAPL) stock Wednesday after the company unveiled the iPod Photo and a special edition U2 iPod on Tuesday. Citing increased iPod shipments, Mr. Milunovich raised the estimate for the fiscal first quarter ending December to earnings of 42 cents per share on revenue of $2.95 billion, up from earnings of 40 cents per share on revenue of $2.85 billion.

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