Apple Computer "outperform," target price raised

11/29/05 - Piper Jaffray

NEW YORK, November 29 (newratings.com) - Analyst Gene Munster of Piper Jaffray reiterates his "outperform" rating on Apple Computer Inc (AAPL). The target price has been raised from $68 to $79.

In a research note published yesterday, the analyst mentions that recent checks over the holiday weekend indicate that the demand for the company’s iPod continues to be robust. Apple Computer is unlikely to achieve the market expectations for iPod unit shipments for December due to limited availability of the iPod at third-party retailers, the analyst says. Piper Jaffray expects the company’s performance in 2006 to be better than that in 2005 due to the launch of several new/updated Macs, apart from the iPods.