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Apple needs ‘structural changes’ on ‘cost side’

Despite Apple’s higher computer sales, soaring iPod revenues and US$46 million profit for the second fiscal quarter, the Prudential Equity Group says the company needs to “make structural changes on the cost side in order to compete more profitably against Dell.” Prudential is impressed by Apple’s “ability to continually reinvent itself” and raised the fiscal 2004 revenue forecast to $7.84 billion from $7.46 billion and earnings view to 60 cents per share from 45 cents. It also raised the 2005 revenue estimate to $8.51 billion from $8.20 billion and earnings estimate to 75 cents per share from 65 cents.

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