The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Wall Street Analyst Says 970 Is Coming, Upgrades Apple's Stock

Wall Street Analyst Says 970 Is Coming, Upgrades Apple's Stock

by , 2:00 PM EDT, June 18th, 2003

It would seem that a move to the PowerPC 970 may be one of the worst-kept secrets at Apple since the return of Steve Jobs to the company. While rumor sites have been ablaze with stories about the 970, and speculation about such a move has been rampant since IBM first announced the processor last year, a Wall Street analyst has come right out and said that Apple is about to move to the 970.

Charles Wolf, a respected analyst and Apple watcher with Needham & Co., has issued an upgrade to Apple's stock from a Hold to a Buy based on the strength of the iPod and a move to the 970 by the end of this month. He also set a target of US$23 a share. From an article at TheStreet.com:

iPod sales have increased unexpectedly since late April after the launch of the iTunes Music Store and the availability of new iPods, Wolf said. He added, "Sales of the iPod should receive an additional boost when Apple ports its award-winning iTunes jukebox software, which powers the iPod, to the Windows platform later this year."

Regarding the company's PowerMac computer line, Wolf expects sales could rebound in the first quarter of 2004. He said he expects a narrowing of the gigahertz gap between PowerMac and Windows machines when Apple unveils its new PowerMacs that run on IBM's 970 processor family in late June. He added that the graphics application Quark Express was released for Mac OS X last week, and said demand for the PowerMac could possibly increase among graphics professionals.

Note that June is almost over. You can find more information in the full article at TheStreet.com.

Apple's stock is trading higher by more than 6% as of this writing, at 19.37, up 1.18 (+6.49%), on moderately strong volume.


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

The Mac Observer Spin:

It doesn't get much more official than that. Charles Wolf groks Apple, and we have followed his comments for years. While it will still take the words coming from Steve Jobs, or perhaps some other vehicle, to make it truly official, Wall Street seems to think that Mr. Wolf's comments are good news.

Recent Headlines - Updated December 18th

Thu,8:09 PM
BBC Films ‘Apple’s Broken Promises’ for Worker Conditions in Pegatron iPhone Factory
6:20 PM
Save 96% on The World’s Largest iOS 8 + Swift eLearning Bootcamp
5:30 PM
Apple Job Posting Suggests Worldwide Expansion of Apple Pay
2:07 PM
The Story Behind Apple’s ‘The Song’ Commercial (Video)
1:43 PM
TMO Daily Observations: 2014-12-18
11:29 AM
iOS 8 Mail: Customizing Swipe Gestures
9:08 AM
Apple Raises $20M in 2014 Product (RED) Campaign
Wed,5:50 PM
Hit List 2.0 Task Manager Checks Off Syncing, iPhone 6 Interface
5:44 PM
ACM 285: Apple’s iPod Lawsuit Victory and Tag Heuer’s Smart Watch Plans
5:20 PM
STM Harbour iPhone 6 Case is Colorful, Lightweight and Inexpensive
5:16 PM
Register for TMO’s Apple Watch Giveaway
4:15 PM
Apple Pay: a List of Brick-and-Mortar Stores That Accept it
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!