AAPL upgraded to 'Buy'; $23 target
updated 10:00 am EDT, Wed June 18, 2003
Needham today from 'Hold' to 'Buy' based on "the strength of accelerating iPod sales, a possible rebound in PowerMac sales beginning this fall, and the fact that AAPL is abandoning its long-standing strategy of confining its software to the Mac platform, which will enable [it] to target its digital entertainment products and services at the entire market." The company set the target value of AAPL at $23.





