updated 12:20 am EST, Tue January 20, 2004
\'Buy\' rating on AAPL
Needham & Co analyst Charles Wolf has stock, and predicts a price target of $27, according to Macworld UK: "The Apple story has become analogous to a rich boy, poor boy story. The company is finally growing revenues at a material rate –- up 36 per cent in the first quarter and they should be up at least 20 per cent for the year." Wolf points out that margins are not rising in line with this growth, reflecting rising expenses, continued research and development spend and investment in extending the number of retail stores the company has."