“Prudential Equity Group analyst Jesse Tortora upgraded computer and iPod maker Apple Inc. on Monday, predicting an earlier-than-expected launch of both the company’s new operating system and Adobe’s Creative Suite 3,” The Associated Press reports.
AP reports, “Tortora, who boosted Apple to ‘Overweight’ from ‘Neutral Weight’ and raised his price target to $105 from $100, expects Macintosh OS X Leopard and Creative Suite 3 to be released simultaneously at the end of March – about one or two months ahead of Wall Street expectations. ‘We think this powerful one-two punch makes a great deal of sense, as it will likely unleash a flood of pent-up demand for both companies’ products,’ Tortora wrote in a client note.”
“Looking further out, Tortora said Apple will also benefit from the launch of its iPhone, a wireless Internet device and cell phone, in the U.S. in June, followed by Europe in the fourth quarter and in Asia in early 2007,” AP reports.
Full article here.
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