updated 09:35 am EDT, Tue May 10, 2005
AAPL at $52
Piper Jaffray on AAPL with a $52 price target, according to Forbes. The report noted Apple's improved production efficiency and strong demand: "Apple is continuing to improve production efficiency as supported by the fact that most products are being shipped on the same business day as the day of the order placement." The firm cited Apple's placement on Amazon.com Top Seller lists, saying that IPods now hold eight of the top ten spots and 12 of the top 20 for MP3 players, up from four and six, respectively, on April 22. "We believe this exhibits Apple's dominance in the portable MP3 market and shows that the initial exploratory phase of other MP3 players has lightened.