Reuters/YahooNEW YORK (Reuters) - Apple Computer Inc. (Nasdaq:AAPL - news) could introduce its first laptop computers based on Intel Corp. (Nasdaq:INTC - news) chips as early as January, which, together with robust sales of video iPods, should drive earnings higher, Citigroup said on Wednesday.
Citigroup analyst Richard Gardner raised his target on the computer maker's stock price to $71 from $51 and boosted his earnings forecasts for the next two years.
Apple shares were up 10 cents to $68.20 in active morning trading.
For the current quarter, Gardner raised his revenue estimate to $5.5 billion from $4.8 billion and his earnings-per share forecast to 60 cents from 47 cents.
He also raised his 2006 revenue forecast to $20.4 billion from $17.6 billion and his earnings estimate to $2.16 a share from $1.72.
"We are becoming more convinced that Apple will introduce its first Intel-based PowerBook at Macworld San Francisco," Gardner said in a note to clients. That conference runs from January 9 to 13.
So, we can forget about the 970MP?