Piper Jaffray Keeps 'Outperform' Rating on Apple, Cites Market Share Strength

Piper Jaffray analyst Gene Munster on Tuesday issued a new Apple research report obtained by The Mac Observer. In it, he notes the companyis growth in its share of PC shipments during the past quarter and observes that itis "more evidence of iPod-to-Mac carryover." Mr. Munster expects that carryover to continue throughout the rest of 2005, thanks to the 35 million iPods he estimates Apple will have sold by the end of the year. He maintains his "Outperform" rating on the stock, as well as his US$52 12-month target price.

As of 2:30 PM EST on Tuesday, Appleis stock stood at $42.90, up 3.4% for the day.

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