Needham & Co analyst: consumers regard WMA ‘stores and players as inherently inferior’ to Apple’s eq

“Needham & Co analyst Charles Wolf has reaffirmed his ‘Buy’ rating on Apple stock, and predicts a price target of $27. Wolf has reduced earnings estimates for 2004 to $0.50 from $0.55 per share, reflecting lower gross margins as Apple ‘changes its product mix.’ Despite this, the company ‘exceeded expectations’ in the just-gone quarter,” Jonny Evans reports for Macworld UK.

Evans reports, “Macworld can exclusively reveal this analysts’ upbeat assessment for Apple: ‘The Apple story has become analogous to a rich boy, poor boy story. The company is finally growing revenues at a material rate

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