In a note to clients — as reported by “Forbes” (http://macte.ch/gK4Ja) — J.P. Morgan analyst Mark Moskowitz — has repeated his Overweight rating on Apple shares, lifting his target price to US$770 from $675.
He also boosted his EPS [earnings per share] estimates for the company.
For the September 2012 fiscal year, he now sees profits of $44.07 a share, up from $43.37; for FY 2013, he goes to $52.27, from $46.56. Moskowitz also predicts:
° Fiscal year 2013 sales of 167.9 million iPhones and 91.2 million iPads, up from a previous estimate of 147.4 million and 79.1 million;
° “Meaningful growth” in existing end markets as the company still has “low market penetration rates” in tablets, computers, China and the enterprise;
° No full-fledged Apple HDTV until calendar 2013 or later.