Piper Jaffray reiterates ‘Buy’ rating, $250 price target on Apple Inc.

“Shares of Apple Inc. rose in premarket trading Tuesday, after Piper Jaffray said the company was in position to transform the portable music market into a portable computing market,” Tomi Kilgore reports for Thomson Financial.

“Piper Jaffray Analyst Gene Munster reiterated his buy rating and $250 price target on the stock. Munster… expects the company to introduce cheaper, innovative iPods with Wi-Fi and multi-touch technology,” Kilgore reports. “‘We believe that the iPod touch is the first of several Internet-connected iPods that Apple is currently developing,’ Munster said in a research note, which include email and Web browser applications.”

Kilgore reports, “‘With 70% market share, we believe Apple is in the driver’s seat in terms of transforming the portable music market into a portable computing market,’ Munster said.”

Full article here.

[Thanks to MacDailyNews Reader “Kimberly” for the heads up.]


  1. Finally an analyst that makes sense. iPhone and Touch has just touched the tip of the iceberg in usability cool software. The stuff that will come down the pipeline will just blow the doors out of the competition. They can try to imitate, but I think this, good enough, will not be able to break the iPhone/Touch momentum.

  2. No no no. You have to buy Microsoft. They had a record quarter for Zune sales. They sold 5 of them. 3 of them NOT to Zune Tang.

    Plus, they have this really cool table thing that is coming. Not sure when, but its gonna be huge…..er….in a lot of ways.

  3. I first bought AAPL back in 1999, because the investors lost confidence (strong sell rating) and I only wanted to support the company I care deeply for. I kept the stock throughout the early bumpy period, and it turned out to be an outstanding investment. Today, I just bought some more AAPL once again, but this time, it appears, analyses is more favourable. Who knows, what lies ahead this time around, I’m just doing my small bid. Having said that, here’s a humble suggestion, Mr. Jobs, please, innovate but don’t ‘gatekeep’ other innovators.

  4. A lot of the time after Apple keynotes or launches I read comments on sites saying that people are disappointed because there’s nothing revolutionary or innovative, just evolutionary. If this scenario plays out then I think Apple’s biggest innovation will be that they matured the personal computer by evolving their products. Home many other companies have tried handheld devices, upmc’s etc? How many have succeeded. Apple look like doing it without any real risk.

  5. We haven’t hit bottom yet with the US recession. In fact it’s just begun.

    I’ve been through a post real estate bubble recession. It’s not pretty.

    Computers are tools of the young and struggling.

    Old money doesn’t bother with them. Playing with their boats, cars and parties instead.

    Apple’s devices are toys for the young and rich. Which there isn’t too many of or tied up paying for a house they never can resell for what they paid for it.

    When the economy hits those folks, we will see another flood of mortage defaults.

  6. @Old Mac Man

    ‘Apple’s devices are toys for the young and rich.’

    You are entirely correct, sir. But, you have addressed your remarks to an audience that stupidly believes Steve’s toys are changing the world.

    Wall Street disagrees but that doesn’t matter to these guys. Hang on, you shall now be thoroughly trashed.

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