“Music could prove to be Apple Computer Inc.’s saving grace, as it indirectly puts the company back on track as a credible, albeit still tiny, player in the personal computer market,” Ian Karleff reports for The Financial Post. “‘We have been waiting for signs that the anticipated halo effect from Apple’s retail stores and iPod would materialize. This quarter’s results provided the first definitive data point, suggesting that Apple’s core businesses may not be destined to continual decline,’ said First Albany Capital analyst Joel Wagonfeld.
“First Albany was one of three brokerages to upgrade the stock on the back of the quarterly results, and noted that gross profit margins also surprised on the upside as growth in the company’s personal computer business mitigated the margin dampening effect of iPod Minis,” Karleff reports.
Full article here.