Credit Suisse First Boston has raised its target price for Apple stock to $70 from $40 and said it is expecting the company to sell nearly 5 million iPods this quarter. “We believe Apple will ship 4.8 million iPods in the December quarter and will once again exit the quarter with a substantial backlog, mostly in international locales,” the firm said. “This iPod number will fall short of some overly aggressive expectations mainly due to a shortage of hard drives, a problem that has plagued the company for over a year, but one we believe will finally be remedied in the calendar first quarter.”
LC Angell
LC Angell was a senior editor at iLounge. Angell is known for her work on various aspects of the Apple ecosystem, including iPhone, iPad, and iPod. In his role at iLounge, Angell was responsible for a wide range of editorial content, including reviews, buyer's guides, news, and features.