Barron’s: Apple Stock Has Room to Grow

At just over US$70 a share, Apple Computer (AAPL) still has room to rise as high as $85 according to some Wall Street analysts, the financial weekly Barronis is reporting. (paid subscription required).

Barronis reporter Eric Savitz wrote that new introductions of products like the iPod shuffle and the Mac mini are expected to help fuel a stock that already is hitting new highs.

Asking if it can rise above $70, Mr. Savitz wrote, "(Merrill Lynch analyst Steven Milunovich) and other analysts think Appleis stock will find new fans if it continues to regain lost market share in PCs. Less tangible but no less tantalizing is the potential for Apple and its chief, Steve Jobs, to extend its reach in consumer electronics beyond the iPod to new devices. And therein lies what may be the biggest risk for Apple: that its next great idea, whatever it is, fails to catch on."

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