“Shares of Apple Computer Inc. rose 6 percent Friday to their highest price in more than three years on the heaviest volume in nine months, adding to gains already posted this year amid the success of the company’s iPod and iPod mini digital music players,” Duncan Martell reports for Reuters.
“The stock also rose amid persistent takeover speculation, with the purported suitor this time being consumer electronics giant Sony Corp, analysts said. Since at least the mid-1990s, Apple has been posited as a takeover target, with suggested bidders ranging from Sony to Sun Microsystems Inc.,” Martell reports. “‘The word of mouth on this product is very strong,’ said Tim Bajarin, an analyst at Creative Strategies, who noted that he has so far spoken to 10 Apple dealers so far about the reaction to the iPod mini. ‘Customers are literally coming in (to the store) and they know exactly what color they want. Steve really understands what the pulse of the consumer market is, and he’s got a strategy to go after that with an Apple brand,’ Bajarin said, noting that that’s precisely why a Sony bid for Apple would make no sense. To me, that’s the last thing he’d want to do is get mixed up with Sony,’ Bajarin said. ‘They are (Sony and Apple) just diametrically opposed to how they would run the business.'”
Full article here.