Apple shares surge 4.5% in heavy NASDAQ trading

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.”

Full article here.

Related articles:
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

19 Comments

  1. AAPL has been good to me for a long time now, ever since I started picking up chunks when it was at $13/share (split adjusted price of $6.5 today).

    I bought another chunk when there was brief sell-off and the price dropped to $43 last week.

    The thing about Apple is, if you really believe the company will get 5 or 10% marketshare, whether in 2006 or 2007, then it would be stupid to not buy AAPL. If the company ever regains 10% marketshare, then the current prices will look damn cheap.

  2. ron: wise words to be sure.
    many a person whose gotten burned holding on too long…

    i suspect that most of the people who have made the most people are not fans of AAPL, but are mac addicts. they will find out what the difference there is between being a fan (unrealized gains) and being an investor who periodically sells.

  3. I’ll quote myself here for ‘peapod’:

    “Yep, someone hired a bunch of crack heads at the U.S. Patent Office.

    Back in the day the likes of Albert Einstein used to work at patent offices now their all crack heads.”

    Peapod, stop running around like a silly little chicken. Do some research, then make an informed decision on an issue. The mi¢ro$oft lapdog, media bullsh#t frenzy is as others have stated “much ado about nothing”.

    And oh yea, ‘Artisticulated’ one can still make money on a stock even if it is not “falling off a cliff”. It’s called ‘Options’. Consider ‘Puts’, ‘Calls’, and various ‘Spreads’ on AAPL or HP for that matter.

    Ah, Rock on Steve!

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