Edible Apple

With Apple’s earnings conference call fast approaching, a slew of analysts have been releasing revised earnings estimates and price targets for Apple.

Most recently, Goldman Sachs analyst David Bailey upped his price target for Apple Stock from $105 to $125.  For the quarter Baily anticipates EPS of $1.07 on revenue of $8 Billion.   The general Wall Street consensus on Apple’s EPS falls somewhere between $1.08 and $1.11 a share.  For 2009, Bailey anticipates earnings of $5.15 a share, with his 2010 EPS estimate coming in at $5.70.

Morgan Stanley analyst Kathryn Huberty isn’t the most popular analyst amongst Apple fans.  She’s generally bearish on Apple, and as some mac fans will jump to point out, some of her past predictions have been glaringly off-base.  Nonetheless, she also came out with revised earnings estimates for Apple.  Specifically, she upped her 2009 EPS estimate to $5.09, 32 cents higher than her previous estimate of $4.77, though still below the general consensus on Wall Street.  For 2010, Huberty anticipates earnings per share of $5.50, which represents a 28 cent increase from her previous estimate.

Comically, Huberty also upped her price target on Apple Stock to $100, a whole $5 dollar increase from her previous target of $95.  Incidentally, at the time of this writing, Apple is trading at $120.27 a share.

Keith Bachman of BMO Capital also raised his 2009 estimates for Apple to $5.09 a share, up from his previous estimate of $5.05.  In 2010, Bachman anticipates earnings of $5.60, up from previous estimates of $5.30.  Bachman also upped his price target for Apple to $130, citing Apple’s upcoming new iPhone model as a catalyst.  His previous price target was $105.  As for Apple’s upcoming earnings report, Bachman anticipates EPS coming in at $1.06.