Apple shares extend rally on positive news, speculation

“Apple (AAPL) shares have extended their recent rally this morning, getting a boost from several piece of news and speculation,” Eric Savitz blogs for Barron’s.

“The most interesting tidbit… is a piece from the iPod Observer blog which says that Gartner analyst Ken Dulaney believes Apple has ordered 10 million 3G iPhones. The piece also said that Dulaney believes Apple will use an Organic Light Emitting Diode (OLED) display in the new iPhone,” Savitz reports.

“Meanwhile, the Huffington Post today is reporting that all three NYC Apple stores are sold out of iPhones,” Savitz reports. “Also this morning, Bill Fearnley, an analyst with FTN Midwest, this morning slightly raised his EPS estimates for the fiscal year ending September 2008… Fearnley says February Mac sales were above plan, and that March also got off to a strong start. He has a Buy rating and $215 price target on the stock.”

“Not least, Morgan Stanley’s Kathryn Huberty today wrote a bullish note on the company focused on the long-term value of its strength in higher education,” Savitz reports.

More in the full post here.

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


  1. A clear sign that analyst and brokers are manipulating the stock up and down as they please.

    In no time at all it’s up to 145. Pretty soon we’ll be back to 200 if these iPhone rumors persist. No-one is really paying any attention to the Mac sales.

  2. There is too much market volatility going on for there to be a sustained rally. Downside across markets is much stronger than upside. Rumors come and go.

    The best thing Apple can do at the moment is stop having conference calls about the Quarter’s results. Apple does much better when they allow the rumor mill to do their talking. ” width=”19″ height=”19″ alt=”wink” style=”border:0;” />

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