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Busnis: Apple should not introduce widely-anticipated new products more often. Apple shares hit a new all time high Friday as quarterly earnings and new products loom.
Shares rose $7.15, or 1.99% to $364.92 during Friday trading. Apple’s shares have risen 13.3% so far this year.
The Cupertino, Calif.-based company is due to report earnings for its most recent after the close of trading Tuesday.
The computer and mobile phone maker has also promised a new version of its OS X operating system, dubbed Lion, this month.
Many expect the company will also introduce a number of updated computers to complement the new software. Predictions those products would hit this week, however, have proven wrong.
Meanwhile, Peter Misek at Jefferies raised his estimate for Apple’s second-quarter earnings to $5.96 per share, or $26 million, compared to the consensus EPS of $5.82.
“We believe sales for macbook Air, iPad, and iPhone were better than expected despite fears of production constraints and slowing demand,” Misek wrote, arguing that Apple has dual sourced — and even triple sourced — key parts.
source: forbes.com
Posted in: Apple,Cupertino California,Earnings per share,Income,IPad,IPhone,MacBook Air,Operating system
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