Apple shares put on $2.05, or 4.5%, to $48.15 amid bullish comments at Piper Jaffray. “Piper Jaffray analyst Gene Munster named the maker of Macintosh personal computers and iPod music players the firm’s ‘large-cap top pick’ for the rest of 2005. Munster said Apple’s share price may climb to the mid-$50s by the end of the year,” Bloomberg reports. “‘We expect new versions of the iPod and obviously that benefits their holiday season,’ said Munster in an interview. He said Macintosh computers have gained, on average, 0.2 percent of the global market per quarter over the last year, putting Apple on pace to exceed Wall Street estimates. The company’s September-quarter forecast of results may also understate actual performance, according to Munster.”
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Piper Jaffray selects Apple Computer as top large cap pick for rest of 2005 – August 15, 2005
Tech Pundit Enderle: ‘fourth quarter should be ugly for Apple’ – August 09, 2005