“Shares of Apple Inc. rose in premarket trading Tuesday, after Piper Jaffray said the company was in position to transform the portable music market into a portable computing market,” Tomi Kilgore reports for Thomson Financial.

“Piper Jaffray Analyst Gene Munster reiterated his buy rating and $250 price target on the stock. Munster… expects the company to introduce cheaper, innovative iPods with Wi-Fi and multi-touch technology,” Kilgore reports. “‘We believe that the iPod touch is the first of several Internet-connected iPods that Apple is currently developing,’ Munster said in a research note, which include email and Web browser applications.”

Kilgore reports, “‘With 70% market share, we believe Apple is in the driver’s seat in terms of transforming the portable music market into a portable computing market,’ Munster said.”

Full article here.

[Thanks to MacDailyNews Reader “Kimberly” for the heads up.]