Banc of America lifts earnings, revenue estimates for Apple
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Banc of America lifts earnings, revenue estimates for Apple

Analyst Scott Craig lifted his fiscal first-quarter earnings forecast to US$1.60 a share from $1.52 a share, and his revenue estimate to $9.6 billion from $9.3 billion. Craig's fiscal 2008 earnings projection was raised to $5.04 a share from $4.87 and his revenue outlook was lifted to $31.7 billion from $30.7 billion.

He reiterated his buy rating and $200 price target. The stock was trading up 0.8 percent at $174.10 ahead of Monday's open.

"While none of our names are immune from economic changes, we believe that Apple is less likely to be impacted by such changes due to the company's unique and diversified business model, loyal customer base and market share gains," Craig said in a research note.

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