Shares of Apple (up $4.54 to $79.07 rose over 6 percent in afternoon trading on Nasdaq. Shares of rivals Microsoft (down $0.32 to $28.20) and Dell (down $1.58 to $23.12) edged lower.
CNNMoney.com reports, “Piper Jaffray’s Gene Munster said in a note to clients reported by Reuters that Apple’s results show its ‘formula is working’ as the popularity of its iPods is translating into a ‘resurgence in the Mac platform. We believe in six months the halo effect will expand beyond a simple iPod-to-Mac correlation into a four-way relationship with iPod, Mac, iPhone, and iTV benefiting from each other’s success. If this plays out, Apple’s growth rate should accelerate in 2007.'”
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