UBS Investment Research on Monday on Apple based on its analysis of the 4-gigabyte iPod nano. UBS said the 4G nano could be Apple's "key product" into 2006, with many stores struggling to keep the devices in stock. "Counter to some accounts pointing to a hit to margins, we believe the iPod nano should support our gross-margin estimates, especially if the company receives favorable pricing for components like flash memory," said the firm. "While we acknowledge some risks as we move closer to the 'Intel switch' in Macs starting next year, we believe Apple remains one of the best stories in the technology spectrum (including digital media) in terms of earnings-per-share upside potential and relative growth versus alternative investments," said UBS. The firm raised its outlook for Apple to $64 from $59.