“Apple Computer Inc. shares rose to a new all-time high Monday on upbeat comments from several Wall Street analysts after a strong start to holiday sales of Apple’s iPod music players,” Rex Crum reports for MarketWatch. “Apple rose 39 cents to $69.73 in late trading in the wake of reports from Piper Jaffray analyst Gene Munster and Deutsche Bank analyst Chris Whitmore. Both analysts raised their price targets on Apple’s stock, while Whitmore also raised his 2006 and 2007 earnings estimate on Apple.”
“Additionally, JP Morgan analyst Bill Shope reiterated a positive view on Apple’s prospect for the current shopping season and beyond. The analysts’ views followed recent reports for Amazon.com Inc. that said Apple iPods claimed the No. 2 and No. 3 spots on the online retailers list of top-selling consumer electronics between Nov. 1 and Nov. 22,” Crum reports. “Munster said Apple’s strength continued into the post-Thanksgiving holiday shopping weekend, typically the busiest shopping period of the year. Munster raised his price target on Apple to $79, and, in a research note, said that “in addition to new and updated iPods, 2006 will be a significant year for the Mac line of personal computers. Munster expects Apple’s transition to using microprocessors from Intel Corp. for its Mac computers will lead to greater product demand next year.”
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