Tag: csfb

After completing checks with key component suppliers, Credit Suisse First Boston today raised its estimates on Apple, saying that “both iPod and Mac demand are tracking above normal seasonal calendar first-quarter patterns.” CSFB raised the quarterly shipping estimate on the Mac mini to 150,000 units from 100,000, and expects total Mac units shipping in the second quarter to rise 35% year-over-year (15% excluding the Mac mini), above the firm’s PC industry growth estimate of 10%.

Credit Suisse First Boston has raised its target price for Apple to US$70 from $40 and said the company is poised to exceed prior sales guidance for the fiscal first quarter. “With this season’s hottest CE [consumer electronics] product and a new product cycle in its flagship iMac, Apple is poised to significantly exceed its initial December quarter outlook issued on its fiscal fourth-quarter conference call in October,” the research firm said. Read More

Credit Suisse First Boston said the price point for the new iMac G5 is high, but that the value is compelling. “We believe the release of the new iMac gives Apple a much-needed boost in its underperforming consumer desktop product line,” the firm said. “We expect strong demand out of the gates for what appears to be a compelling product that addresses a specific hole in Apple’s product line.” However, CSFB was concerned that pricing and possible IBM chip production problems could hinder results.

CSFB today initated coverage on Apple with a “neutral” rating. Robert Semple, an analyst with the firm, said the PC industry has arrived at “a saturation point where a large percentage of the developed world now owns a PC, and long-term market growth is largely dependent on replacement cycles as opposed to new user adoption.”