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6 pts

Opinion on Apple Computer Inc (AAPL) Sector: Technology > Industry: Computer Hardware
Buy Rating ahead of Q3 Results

Jul 20, 2008 06:27 PM UTC

Heri Setyono

Return	Risk
-6.30%	MED

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This pick is about: AAPL

Rating:	$165.14999 (07/20/08)
Closed:	08/08/2008 @ $166.5201 (+0.83% in 19 days)
Target:	$200.00 (+21.10%) in > one year

Piper reiterated its Buy rating ahead of Q3 results as it believes upside to Mac and iPod units may drive upside to the June quarter. The firm believes Mac units could reach 2.35M, above the Street's 2.2M estimate.

NPD data for the months of April and May indicate that Mac sales are up some 50% from the same months last year. If NPD data for the month of June also suggests 50% growth, then it’s possible that Apple could record nearly 2.646 million Macs in Q3. Yet, NPD data has tended to suggest conclusions that have been proven overly aggressive in the past when it comes to Mac sales. Yet NPD data is supportive of a 2.54 million Mac estimate if viewed conservatively.

Read more at http://conquerthewallstreet.blogspot.com/2008/07/apple-inc-aa...