UBS Raises Apple Stock Ranking to ‘Buy’

In a research note published Wednesday, analysts at global financial firm UBS reiterated a "buy" rating on Apple Computer. The target price has been raised from US$37.00 to $42.00.

UBS analyst Ben Reitzes also recommended a "buy" ranking to Apple back in January. In August, UBS voiced concerns about continued lagging production by IBM of the G5 processor could linger into early 2005, and if a forthcoming G5 iMac was a big seller, buyers could experience inventory shortages.

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