Analyst bullish on Apple’s holiday sales, MWSF
Posted by Dennis Sellers 
Nov 19, 2007 at 12:55pm
Eyeing Apple’s always-strong holiday sales, the “most innovative product lineup ever” and stock gains from January’s Macworld Conference & Expo in San Francisco, Piper Jaffray senior analyst Gene Munster has added the company to the “Alpha List, expecting material upside in the next 90 days.”
The Alpha List showcases fast-growing stock prices of companies that are likely to experience major gains in the near term, usually as a result of catalyst events. In a note to clients, Munster reiterated his “buy” rating on Apple shares with a price target of $250.
The Piper Jaffray analyst says the new iPod line-up (the 3G nano, classic and touch) will be a hit, and the iPhone and Mac lines will stay strong. Additionally, the annual excitement over MWSF (and accompanying anticipation of new product announcements) causes the stock to rise, he adds.
“Over the last four years, shares of Apple have increased by an average of 42.5 percent between Oct. 1 and Dec. 1,” Munster told clients. “We believe there is potential for similar gains this year for several reasons (Apple closed at $156.34 on October 1st, 2007). In recent years Apple has announced new or updated iPods in the fall, and this year is no exception.”
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
