All Riding On the iPhone
05.14.07 - 05:49pm
The iPod lost sales in March, falling below 70% market share for the first time since early 2006, yet Apple’s stock is climbing rapidly reaching above the $109 mark for the first time today.
The stock seems to be rising - not on back of the iPod, a wave Apple has ridden for the last few years, but instead on the hopes of a new item - the iPhone, and on increasing sales of Mac desktops and laptops.
Analysts have strong faith in Apple and their products as UBS analyst Ben Reitzes states, “We believe shares can continue to surge into calendar year end on the back of new products. The thesis that Mac sales can surge is alive and well.”
Piper Jaffray analyst Gene Munster commented “With Apple heading into three quarters of significant product releases (iPhone, Leopard, new iPod) and the education buying season, we expect year-over-year market share gains to continue.”
