CSFB Picks Apple as Top Computer Stock, Ahead of Dell [UPDATE]

| Apple Stock Watch

Apple Computer is tops in Credit Suisse First Bostonis book. In a research note to clients, the Wall Street firm called Apple the top pick in computer stocks, ahead of even arch-rival Dell Computer, according to an article at Forbes.

"From a vendor perspective, Apple Computer was the clear winner, as overall units and revenue grew 93% and 66% year-over-year, respectively," the firm said in its research note.

CSFB maintained Outperform ratings on both Apple and Dell, with price targets of US$56 per share and $45 per share respectively.

On Thursday, Banc of America Securities issued a separate research note that maintained a "Buy" rating on AAPL, raising the companyis earnings estimates.

Forbes reported that Appleis earnings estimates for Appleis fourth fiscal quarter were raised to 37 cents per share, up from 33 cents. Earnings estimates for fiscal 2006 were raised to $1.75, up from $1.48. Both Mac and iPod sales were cited as reasons for the increase.

"We have had positive feedback on Appleis systems business, especially the desktops, and this view has been affirmed by the latest monthly NPD data," Banc of America Securities said in its research note. "In addition, iPod sales are doing well, and we would expect the Nano to help."

AAPL will open trading at $51.90 per share for Friday morning trading.

[Update: The story was updated with additional information from Banc of America Securities. - Editor]

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

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