Buy Apple -- The stock, that is...
Category: Apple/Mac OS... Economy & Business...
Posted Monday, November 22, 2004 at 09:48 AM [GMT-6]

I was shocked to see that Apple stock has jumped more than 13% (or more than $7/share) this morning. The jump was sparked by a report from Piper Jaffray analyst Gene Munster who has raised his price target to $100 a share from $52 and reiterated an outperform rating on the shares. The stock is now trading around $62 as I type this.

Piper writes:

"The bottom line from our survey is that 13% of iPod users in our sample users were formerly PC users that, following the purchase of their iPod, have already either purchased a Mac (6%) or are planning to buy a Mac within 12 months (7%).

Just as with the doomsayers who have predicted Apple's imminent demise any day now for the past 10 years, this prediction should be taken with a healthy dose of skepticism. Nevertheless, for us Mac afficionados, it's a breath of fresh air (albeit with a bitter twang, as some of us can remember the recent opportunity to buy the shares at $12 per not all that long ago. But did we? Nooooooo...).

Nevertheless, as the wise and gentle Mr. Rogers might have put it, "can you say 'switch'?"

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Comments

I guess I would be one of those who bought a Mac after purchasing an iPod. But I really started using Macs along time ago. I was quite good with MacOS 9. Then I had to start using Wintel and can use both platforms with minimal problems. I got used to MacOS X while helping to edit movies for my church on their Mac and now I am back to using a Mac (where I have always wanted to be) for the majority of the time. I really like my iMac G5 and it works well with the iPod.

Posted by: Christopher at November 22, 2004 06:50 PM
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