Apple to report 'blowout quarter' on iPod, music sales
January 8, 2004 - 12:22 PST   When Apple reports its earnings for the fiscal first quarter of 2004 next week, Wall Street expects the company to post a profit of 14 cents a share, compared with a profit of 3 cents a share a year earlier. Analysts are predicting that sales rose 29 percent to $1.9 billion. But Matt Kelmon of the Kelmoore Investment Co. thinks Apple will report a "blowout quarter" thanks to strong iPod and iTunes Music Store sales. For this reason, he recently doubled his position in the Kelmoore Strategy Eagle fund to 350,000 shares. "I haven't felt this good about a stock in awhile," he said. Apple will report its results on Wednesday, January 14, after the markets close.  [ Email this story ]

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