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AAPL Stock: 503.02 ( + 0.81 )

PiperJaffray increases AAPL target price to $100

updated 08:20 am EST, Mon November 22, 2004

AAPL target price at $100


PiperJaffray has increased its from $52 to $100, nearly double the current stock. The analyst firm cited findings from its own survey of iPod users, according to CBSMarketWatch: "The $100 price target means the stock would trade at 37 times the broker's calendar 2006 earnings and cash estimate per share. 'While this multiple is a premium to the comp group, we believe it is warranted given the growth potential of the iPod and its carryover to the core Mac business,'" AAPL is more than percent, trading near $57 in pre-open Monday trading. Merrill Lynch, however, more guarded on the PC market, saying it expects 2005 PC unit growth to slow to 9 percent from growth of 12 percent in 2004.


by MacNN Staff

(4)

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Comments

  1. l008com

    Addicted to MacNN

    Joined: Jan 2000

    0

    nice

    nice that others are starting to see the potential that we've always seen.

  1. Glasspusher

    Fresh-Faced Recruit

    Joined: Oct 2000

    0

    going up

    Gee, the stock has jumped about 6 bucks today, on this upgrade? Maybe I should set my estimates at $200 and watch it jump even more ;)

    It's getting closer to its pre-crash price of $75

  1. lmhaffner

    Fresh-Faced Recruit

    Joined: Apr 2002

    0

    insane...

    It's strangely sickening that the word of a single person can make such a stock move so fast. The numbers have been there for 6 months to a year staring everyone in the face. The white cords on this campus are doubling every few months. I thought the growth was reasonable. This is crazy.

    Maybe someone needs a Christmas bonus.

  1. klinux

    Senior User

    Joined: Jul 2002

    0

    insane

    What's insane is how many people here hang on every word uttered by The One.

    If you've been following the market for a while, this is not unusual. Insane? No. Rational? I don't think so either.

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