|[3:30 PM] DLJ Anaylst Sings Apple's Praised On CNBC
Thomas Galvin, an analyst with Donaldson, Lufkin, & Jenrette, appeared on CNBC commenting on his favorite stocks. Who was his favorite? Apple Computer. Apple was listed as one of three stock picks that Mr. Galvin felt were good buys. The iMac was one of the primary reasons for that choice. According to Mr. Galvin:
Apple is well positioned with the iMac, tapping into consumers who want to get onto the Internet. They have their colorful machines, and the iMac continues to sell incredibly well.
Apple closed higher today. We will have a full report in today's Apple Stock Watch.
The Mac Observer Spin: It's good to see Apple continue to receive support from the financial community, even when they are trading at historic highs. It was only a few short months ago when Apple was trading in the 60 range that a couple of analysts backed off their ratings and called Apple overbought. Here we are today with Apple trading almost twice as high, and analysts can not sing Apple's praises loud enough. All those die-hard Mac fans who bought Apple in the teens and twenties must be enjoying themselves now! :-)
Donaldson, Lufkin, & Jenrette