Analyst: ‘Apple Likely To Outperform Competition For Years’

Gene Munster, an analyst with Piper Jaffray, has “maintained an ‘outperform‘ rating on Apple and raised his price target and earnings estimates for the company based on this week’s announcements at MacWorld and expectations for market share gains for both Mac and iPod through continued product innovation,” reports Forbes. Munster raised Apple’s price target to US$103 from $80, and raised fiscal 2006 estimates for Apple to earnings of $2.17 per share on revenue of $20.22 billion from earnings of $1.74 per share on revenue of $17.58 billion. The analyst also said that a two-for-one stock split is likely to be announced soon.