Apple shares rise nearly 4-percent on positive comments from analysts

“Apple Computer Inc. shares rose almost 4% Monday as Citigroup raised its rating on the company and as several other analysts said they expected new products should boost Apple through the year,” Rex Crum reports for MarketWatch. “Apple rose $2.49, to close at $65.68, after Citigroup analyst Richard Gardner raised his rating to buy from hold, saying that much of the market’s recent negative concerns about Apple — which have driven the company’s shares down 27% over the past two months — has now been priced into the stock.”

“Gardner added that Apple, which celebrates its 30th anniversary on April 1, is likely to use the occasion to roll out a new video iPod player with a larger screen than the current model, and revamp its iBook laptops to include Intel chips. Apple’s likely to get these roadblocks out of the way before heading into what’s traditionally a busier — and, financially speaking, more important — time of the year, Gardner told investors in a note,” Crum reports. “Meanwhile, Bear Stearns analyst Andy Neff didn’t raise his rating on Apple from his current outperform level but echoed some of Gardner’s feelings, calling investors’ anxiety ‘a buying opportunity.'”

Full article here.

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Related articles:
Piper Jaffray: Apple on track to meet or slightly exceed iPod unit expectations – March 13, 2006
Bear Stearns: Current Apple weakness is a buying opportunity – March 13, 2006
Citgroup analyst expects ‘fairly eventful’ Apple announcement around 30th anniversary on April 1st – March 13, 2006
Citigroup ups Apple to ‘buy,’ expects Intel transisiton to be complete in all Macs by August – March 13, 2006

10 Comments

  1. It’s been slowly slipping away over the last week or so and this 4% bump is no where near the 70 dollar mark where it used to be. My stock widget says $65.64. But thats OK.

  2. When the stock was at $86 and then slipped to $78 people said it’s time to buy, buy, buy….

    Good thing I got in at $19 (pre-split!)

    And by the way… There will not be a new iPod for a while yet…

    The fifth generation cases that were just announced haven’t even shipped yet… I hardly think they’ll be rolling out the 6th gen. iPod before the cases for the 5th gen even ship…

    Analysts are schmucks…

  3. Anything could happen. A larger video iPod would not necessarily mean the 5th gen models are toast. They could stay in the line up and the new one will be $499 at introduction with the price coming down after the early adopters have been harvested.

    It’s still early to grab Apple stock for a short term hop up. The stock has been up and down regularly. It’s gonna really heat up as we get closeer to the next product rollout.

    They might roll out Universal Pro Apps (Final Cut and Logic(s), then follow up at NAB with powerful new next generation Final Cut.

    BTW, my new Core Solo MacMini (stock model) works great on my 53″ Sony, a fantastic little video node.

  4. to comment hugh in the first post….

    hugh….you don’t think 4% a day is good!?! you think u’d be in real trouble???

    if you got a 4% rise each day on $1 for an entire year….you would have over 1.6 million at the end of the year. 4% is a good deal of money if you know how to invest.

    looks like you took a triple dose of the stupid pill

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