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Apple Stock Climbs To New High After UBS Report

Apple Stock Climbs To New High After UBS Report

by , 12:15 PM EST, December 6th, 2005

Apple's Stock shot up following a report from UBS analyst Ben Reitzes, according to MarketWatch. Tuesday's UBS report noted a positive shift mix towards the video capable iPod and iMac G5. It also raised its first quarter earnings estimate to US$0.58 on $5.2 billion in sales.

Also feeding the continued upswing in Apple's value is the expectation that 11.4 million iPods will be sold this quarter, and that Apple will announce new Macs at Macworld Expo 2006 in January, possibly even Intel-based models.

Apple's stock overall has been steadily on the rise all day, climbing above last Friday's high of $72.47. Apple's stock is currently trading at $74.52, up 2.70 (3.76%).

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