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Apple rises in premarket trading on video iPod sales

Apple shares rose in premarket trading today on comments by UBS analyst Benjamin Reitzes, who said “We believe that Apple is experiencing a positive mix shift toward video iPods and to a lesser extent, iMacs,” he said in a report. “In addition to solid holiday sales, we believe investors will focus more on potential new products at Macworld in January, including a few new Macs and other new initiatives,” reports the Associated Press. The analyst lifted his Q1 estimates for the second time to US$0.58 per share from 53 cents and forecast a 50% increase in revenue to about $5.2 billion.

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