updated 09:25 am EDT, Mon April 25, 2005
Apple was from "neutral" by investor firm Credit Suisse First Boston this morning on the belief that the next major boost for the stock will be driven by the company's success in the PC market. Apple's Mac line is poised for continued growth over the coming quarters, following the completion of its second-straight quarter of market share gains. Analyst Robert Semple raised his stock price target to $45 from $40, his 2005 earnings estimate to $1.36 a share from $1.32 and his 2006 forecast to $1.61 a share from $1.52. "We believe that while iPod has been the growth catalyst for the story to date, the Mac business is now poised to deliver strong growth, market share gains and positive earnings revisions over the coming quarters," Semple said.