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UBS ups Apple earnings estimate, sees shortages abating

UBS has raised its second quarter earnings per share estimate for Apple to 45 cents from a previous estimate of 41 cents on expectations for a 67 percent jump in revenue to $3.19 billion. “Our checks indicate that the new Mac mini and iPod shuffle are being well received and that current shortages will likely be alleviated next month,” UBS analysts said. The financial firm said it further sees software revenue for Apple rising to $1 billion this fiscal year.

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