Analyst Upbeat on Apple Stock Outlook
Analyst Upbeat on Apple Stock Outlook
by , 10:00 AM EDT, July 23rd, 2004
Nate Pile, editor of investment newsletter Nate's Notes, recommends buying Apple Computer stock, saying the iPod maker is poised to reap benefits from the 'digital lifestyle'.
Mr. Pile told Forbes.com Thursday, "the 'digital lifestyle' era is still in its infancy, and I believe that Apple is at the forefront of defining what this paradigm shift will look like. The iPod/iTunes combination is clearly a huge success."
Mr. Pile also believes Apple will sell more Mac systems as well as people enter the holiday season and start making DVDs of videos and still digital photos.
Mr. Pile also anticipates Apple may make sales to the corporate market. "All it will take is one or two high-profile companies to migrate to Apple to open the floodgates for other IT managers to realize that they, too, should consider moving to a new platform," Mr. Pile said. "Now that Apple has a legitimate offering in this space, it would not surprise me if at least a few companies are contemplating a switch."
Expecting a pullback in Apple shares after the recent rise following the earnings report, said Mr. Pile, although he calls Apple a "buy" under US$34.00 and a "strong buy" below $28.00.
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