Apple may launch Intel laptops soon, analyst says

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.

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 Jan. 9 to 13.

Gardner said these product introductions would be sooner than expected, which should help minimize the risk that Apple would end up with a buildup of its current line of non-Intel laptops as customers anticipate the arrival of the new models.

For 2007, he expects revenue of $24.3 billion and per-share profit of $2.61, up from his previous forecasts of $19.6 billion and $1.93.

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