Apple climbs in pre-market trading after ThinkEquity raises target price to $100

“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.

Related articles:
UBS hikes Apple price target to $92, maintains ‘buy’ rating – September 07, 2006
Bear Stearns reiterates ‘outperform’ rating on Apple Computer with target price of $88 – August 29, 2006
Piper Jaffray maintains ‘outperform’ rating, $99 price target on Apple Computer shares – July 28, 2006

8 Comments

  1. iSteve, thanks for the info!

    What is important to calculate as well is the P/E ratios of the companies. AAPL is trading a a premium because the market believe it to be a dealer, while DULL trades with a multiple far closer to book value because, well, they are just an assembly line and spare parts.

  2. Oh dear for all those business that have gone down that dead end street…called Windows.

    $100 will be with us before March ’07… (which is when we predicted $200 before the share split before end 2007).

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