“Shares of Apple Computer Inc. rose in Monday pre-market trading, after a ThinkEquity analyst raised his price target on the stock to $100, saying the computer maker is poised to gain from a successful back-to-school season and the upcoming release of its Leopard operating system. ‘Never in the history of the PC has a company been better positioned than Apple is at this time, to both gain share and improve profitability,’ analyst Jonathan Hoopes wrote in a note to investors,” The Associated Press reports.
“Hoopes maintains a ‘Buy’ rating on the shares, predicting that the company will see a boost in customers at retail stores from recent upgrades to its iPod music players and its set-top box, iTV, which will allow customers to wirelessly send movies purchased online to their TV sets,” AP reports. “Looking ahead, Hoopes predicts Apple central processing unit shipments will grow 28 percent in fiscal 2007. Furthermore, he believes Apple, like other PC vendors, will benefit from pent-up demand in European markets.”
AP reports, “Shares of Apple rose 75 cents, or 1 percent, to $73.75 on the INET electronic stock exchange, having closed Friday at $73 on the Nasdaq.”
Full article here.
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