Apple Trending Higher as Estimates and Market Share Increase
Apple (AAPL) is up $3.77 today on an upgrade from Gene Munster of Piper Jaffray. He believes the combination of the iPod’s future development and the iPhone has tremendous potential (quite possibly the most obvious statement on the street). Ultimately, Gene suggested that Apple’s price target should be raised to $205 per share, one of the highest on the street.
Also, there’s an interesting number that hit the street a couple of days ago. IDC released market share numbers for the top worldwide computer brands.
“Apple’s 2nd Quarter 2007 U.S. market share was up to 5.6% of U.S. shipments. This tied Apple in 3rd place with Gateway for U.S. market share for this quarter. Dell and HP were well ahead at 28.4% and 23.6% respectively. Apple did not rank in the top 5 vendors for worldwide sales. The 5.6% U.S. market share represents an increase from 4.8% in the year-ago (2006) quarter, which was an increase from 4.4% in the Q2 2005 quarter. ” (SOURCE)
Disclosure: Long Apple Inc. (AAPL)
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