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Tuesday, May 17, 2005 5:55pm
AAPL down on report of weak demand for Apple products |
Apple stock today dropped by 44 cents to $35.11 after one analyst said that demand for some Apple products was weak, while demand for others was strong. MarketWatch reports that Thomas Weisel Partners (TWP) said it found continued strong demand for the iMac G5, refreshed PowerBook and some iPods, including the iPod mini and Shuffle. TWP said that Mac mini sales were disappointing and that the demand for the high-end iPods appear to have slowed down considerably. "Our checks suggest Mac Mini sales are somewhat slow, as consumers realize that price including monitor is no bargain," he said. The firm maintains a 'Peer Perform' rating, with fair value range of $26 to $38, saying that the "current valuation is reasonable, but on the high side."
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