Bear Stearns upgraded Apple to “outperform” from “peer perform,” citing “an improved revenue and earnings growth rate, reduced risks for transition to Intel and an increased clarity into new product,” reports MarketWatch. Apple’s stock was last up US$1.05, or 1.3%, at $84.95 in pre-open trading, after closing at an all-time high yesterday. “Analyst Andrew Neff established a year-end stock price target of $105, and raised his 2006 earnings estimate to $2.53 a share from $2.12 and his 2007 forecast to $3.14 a share from $2.42.”