“Rebecca Runkle of Morgan Stanley raised the price target and maintained an ‘overweight’ rating on Apple Computer in anticipation of a strong holiday season and continued portfolio expansion with the potential introduction of Macintosh computers based on Intel chips next year,” Maya Roney reports for Forbes.
“Runkle expects calendar fourth-quarter 2005 results to be ‘impressive,’ driven by an expanded iPod installed base, new iPods, extended digital content and CPU refreshes,” Roney reports. “The analyst said an Intel Mac launch in the first half of 2006 would be a major catalyst to near-term and long-term upside. She raised the price target on Apple to $70 from $60.”
Full article here.
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