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AAPL Stock: 119 ( + 1.4 )

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Piper Jaffray analyst upgrades AAPL, raises estimates

updated 12:05 pm EDT, Mon June 28, 2004

Analyst upgrades AAPL

Analyst Gene Munster of Piper Jaffray has and raised his price target from $32 to $40 as well as his EPS estimates for FY05 and FY06, according to NewRatings: "According to Piper Jaffray's research note published this morning, Apple Computer is poised to benefit considerably in the long term from its significant leverage to the digital convergence trends. The analyst mentions that the company is likely to witness robust demand growth for its Mac products, boosted by continued near-term digital convergence momentum. Apple's specialist resellers in the US have expressed their optimism regarding the robust near-term sales growth potential of the company's products, with significant strength in the PowerBook products, Piper Jaffray says. The analyst expects Apple Computer to report its June quarter sales ahead of the consensus estimates."




by MacNN Staff

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Comments

  1. Pauldunlop

    Joined: Dec 1969

    0

    High praise

    Wow. That really is high praise from one of these guys! Lets hope he's right

  1. stephenh

    Joined: Dec 1969

    0

    Right...

    Could he fit more buzz word babble into one sentence? Don't get me wrong I think that would be great, but this smacks of artificially inflating stocks to me.

  1. Too Artificial

    Joined: Dec 1969

    0

    Artificially?

    C'mon, these punks would *never* do that :)

  1. tliszt

    Joined: Dec 1969

    0

    If only they had product!

    And they'd be doing even better yet if they actually had product to sell!

    Not a single reseller in the Portland area has ANY iPod minis available. Nada. Zippo.

  1. klinux

    Joined: Dec 1969

    0

    Hey!

    Analysts suck! They are no credible like all those iased journalists out there!

    Oh wait, they are saying positive things? Go analysts! Rah rah!

    Whatever...

  1. dampeoples

    Joined: Dec 1969

    0

    well

    nice to see them upgrade right before wwdc...

  1. z10n

    Joined: Dec 1969

    0

    It's refreshing

    to see someone who thinks all of apple's digital media efforts will eventually strengthen the mac platform, though I'm not sure I really buy the connection just yet. Certainly, apple's digital media efforts have gained exposure for apple's products, but I don't agree that mac sales will really be affected until apple combines those things with either more agressive pricing, better adversing, or a greater variety and choice in their product line. There needs to be a more convincing (finantial) reason for business to switch to the mac then just avoiding virus/worms/popups, etc. Rather then just putting a pretty face on everything, Apple needs to expose the reasons why their solutions are better then those currently available on windows.

  1. klinux

    Joined: Dec 1969

    0

    :)

    z10n - did you just read today's WSJ?

    WSJ has the same article and points you made: iPod and iTunes - wonderful, top-of-the-class, incomparable. It sure is generating lots of cash.

    However, sales are flat for its PCs, especially iMacs, when Windows PCs are up 12%. Advertising ('Switch') did not work. Building $$$ stores and alienating its resellers? Not helping either.

    The result is declining marketshare.

    "Marketshare doesn't matter. Mindshare is more important! Blah blah" whines the zealots.

    The fact is, if you don't even keep up the pace, you will become less relevant.

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