updated 09:05 am EST, Thu March 1, 2007
Analysts 'bullish' on AAPL
Analyst firm Goldman Sachs is confident that Apple shares represent a core holding and should be bought on any sign of weaknesses, following the analyst Q&A session with the iPod-maker in Las Vegas, according to Forbes. "Apple continues to reinforce its emphasis on and ability to innovate at levels that separate it from other companies," analyst David Bailey wrote. Bailey also said that the iPhone is sufficiently innovative to garner Apple's 10-million-unit target for fiscal 2008 despite the high cost of the iPhone. Additionally, the analyst stated that the doubling of Apple's iTunes gift card sales in the December quarter should lead to an uptick of iTunes revenue in the current quarter. Wednesday afternoon Apple shares rose 1.1 percent, $0.90, to $84.83.