“Piper Jaffray reiterated an ‘outperform’ rating on Apple Computer, saying the company’s 2005 retail strategy will serve as a catalyst for revenue growth. ‘We believe the Street is underestimating the power of Apple’s retail strategy,’ Piper Jaffray said. ‘We feel that the ongoing rebound in the creative pro market will impact Apple sales. Also, we view last quarter’s results as the first evidence that adoption of iPod has been improving underlying demand for Macs.’ Piper Jaffray’s target price for Apple is $40,” Forbes reports.
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