updated 08:35 am EDT, Fri July 9, 2004
Apple and AAPL run-up
"[Apple's] a different kind of company you're buying today than you were four years ago when you were buying this PC company that you hoped would be able to reverse their losses in PC market share," Dan Niles, chief executive of Neuberger Berman Technology Management, tells Reuters in an article discussing . Despite the stock's run-up in the last six months, some investors are still bullish, citing Apple's impressive retail store numbers ($1 out of every $7 it generates comes from the 80 stores, which have a 40 percent profit margin), continued iPod and iTunes growth, and attractive new product prospects in the third and forth quarter. Apple CEO Steve Jobs, of course, agrees. "We think [the digital lifestyle] strategy still has a lot of legs. If investors are catching up with us, that's terrific and hopefully they'll continue to follow us," Jobs said in a recent interview.