In an interview with the Minneapolis Star Tribune, Piper Jaffray analyst Gene Munster told reporter Steve Alexander, "Without the iPod, Apple would be irrelevant," and that the "iPod has given Apple a second life." Mr. Munster is the most bullish analyst covering Apple, and the comments come in a report about how the iPod has helped Appleis bottom line and increased Mac sales in the process.
The newspaper report offers a thorough examination of Appleis current operations, and covers such issues as competitors to the iPod, how Apple is leveraging its retail Apple Stores, the effect of the Mac mini, the ways in which the iMac G5 and Mac mini reflect the iPod, and other related issues. Much of the content will be familiar to regular TMO readers, but the full report offers an excellent overview of Appleis current state of operations.
Piper Jaffray analyst Gene Munster currently maintains a US$100 target price for Apple. The next highest target is $97, set by Bear Stearns last Friday, January 21st. The rest of the field offering coverage of Apple has price targets in the $75-$85 range.
Apple stock is trading higher today at 72.39, a gain of 1.63 (+2.30%) on moderate volume.
*In the interest of full disclosure, the author holds a small share in APPL stock that was not an influence in the creation of this article.