N ewRatings.com is reporting that Piper Jaffray analyst Gene Munster has reissued an Outperform rating for Appleis stock. The rating was issued in part because Mr. Munster believes that Appleis core creative pro market has rebounded. From NewRatings.com:
According to Piper Jaffrayis research note published this morning, industry data suggests that the creative professional computer market has rebounded. Apple Computer is expected to witness healthy demand for its hardware and software over the next few quarters due to the recovery in the creative professional computer market, the analyst says. Piper Jaffray estimates the companyis Mac sales growth at 9% YoY for the September quarter. Apple Computer is expected to ship its upgraded iMacs during mid-September, the analyst adds.
Piper Jaffray uses a four-tier rating system for their stock recommendations of Strong Buy, Outperform, Market Perform, and Underperform. Different investment firms use those ratings in subtly different ways, but for Piper Jaffray, an Outperform rating means the stock is "expected to outperform the relevant broader market index over the next 12 to 18 months."
As of this writing, AAPL is trading at 31.49, up 0.62 (+2.01%) on moderate volume.
You can find more information in the full article at NewRatings.com.
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