Analysts at First Albany have reiterated their ‘buy’ rating on Apple Computer Inc (AAPL) and raised their target price from $44 to $48.
In a research note, First Albany analysts mentioned that concerns about HP’s decision to stop reselling the iPods under its own brand, caused a recent “unwarranted” decline in the company’s share price. According to the analysts, Apple Computer has significantly increased its own distribution points and revenues from HP comprised just a small part of Apple’s total revenues.
Synaptics’ recent sluggish outlook reflects Apple Computer’s decision to exclude the former’s products from the next generation iPods, the analysts say.
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Analyst: Hewlett-Packard may want to make their own MP3 music players – July 29, 2005
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Report: Hewlett-Packard to stop reselling Apple iPods by September – July 29, 2005
HP adds ‘Apple iPod shuffle from HP’ to digital music player line – July 01, 2005
Hewlett-Packard adds ‘Apple iPod mini from HP’ to iPod digital music player lineup – June 02, 2005
Hewlett-Packard expands branded iPod lineup, announces ‘Apple iPod photo from HP’ models – April 12, 2005
Hewlett-Packard adds ‘iPod dock holder’ to latest Media Center desktop – March 31, 2005
What’s the point of continuing the ‘Apple iPod by HP’ deal? – March 30, 2005
Hewlett-Packard ousts CEO Carly Fiorina, and what was with that ‘Apple iPod by HP’ deal anyway? – February 09, 2005
Apple, Hewlett-Packard debut new iPod television commericals – August 30, 2004
Hewlett-Packard-branded Apple iPod to debut Friday – August 26, 2004
Why Hewlett-Packard took Apple’s iPod shortcut – February 02, 2004