Investment firm raises AAPL target to $60
updated 11:30 am EDT, Thu October 6, 2005
AAPL target $60
First Albany to $60 from $53 on the belief that iPod nano's success will provide "upside momentum" heading into the fourth quarter. "Despite the stock's run and the inevitability that Apple's growth rate will eventually slow, we think renewed iPod demand/leverage and continued central processing unit share gains should enable sustained stock momentum through the end of the year," said analyst Joel Wagonfeld. The stock closed Wednesday down 97 cents at $52.78, after reaching an all-time high of $55.35 in intraday trading on Tuesday.
