Shares of Apple Inc. gained “in early trading… as Goldman Sachs advised investors to buy the Cupertino, Calif., computer and gadget maker before “the almost certain launch of a new family of iPods next Wednesday,’” The Associated Press reports.
“‘The product announcement is likely to include a full line-up of revamped iPods with significantly greater functionality at current price points, including the much-anticipated full screen video iPod,’ said analysts David C. Bailey, Laura Conigliaro and Min Park. They said the new gadget could drive sales even higher than their expected 19.8 million iPods for the September and December quarters,” AP reports.
AP reports, “They also pointed to a redesigned iMac and new software from Adobe as catalysts for better computer sales. ‘Together, we see the Mac and iPod product cycles as strong enough to generate higher volumes and upside to our current earnings estimates,’ the analysts wrote. They kept a $165 price target on the shares. Apple added $3.13, or 2.5 percent, to $129.95 premarket, from its close at $126.82.”
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