updated 01:15 pm EDT, Fri September 10, 2004
Retail stores fuel AAPL
Piper Jaffray reiterated an , saying the company's 2005 retail strategy will serve as a catalyst for revenue growth. "We believe the Street is underestimating the power of Apple's retail strategy," Piper Jaffray said. Apple hopes to attract new customers using by placing its retail outlets in high-traffic areas and plans to retain existing customers through "genius bars," according to the research firm. Citing better-than-expected results in the core Mac business from last quarter, Piper said that an ongoing rebound in the creative pro market and iPod-driven demand for Macs will help fuel the company's success. Piper Jaffray's target price for Apple is $40.