Prudential Equity Group on Friday raised its sales and earnings per share estimates for Apple, saying it believes that the first quarter is exceeding expectations because of strong demand for the company’s music products, including the iPod shuffle. The firm told clients it is convinced that “the music story not only has legs but is capable of materially moving the revenue and earnings needles.” Prudential raised its revenue estimate for the second quarter to $3.16 billion from $3 billion and its EPS estimates to 25 cents a share from 23 cents a share.
