Analyst Robert Semple of Credit Suisse First Boston has upgraded Apple Computer to “outperform” from “neutral” on the belief that the “next leg up in the stock will be driven by the company’s success in the PC market, as its Mac line has just completed its second-straight quarter of market share gains,” Dow Jones reports.
“Analyst Robert Semple raised his stock price target to $45 from $40, his 2005 earnings estimate to $1.36 a share from $1.32 and his 2006 forecast to $1.61 a share from $1.52,” Dow Jones reports. ‘We believe that while iPod has been the growth catalyst for the story to date, the Mac business is now poised to deliver strong growth, market share gains and positive earnings revisions over the coming quarters,’ Semple said.”
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