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Forbes: ‘Apple Pullback Creates Buying Opportunity’

Gene Munster, an analyst with Piper Jaffray, has maintained an “outperform” rating and US$103 price target on Apple after last month’s NPD data showed iPod sales tracking in-line with estimates, reports Forbes. “We would be buyers of Apple on [the recent] pullback given we believe iPod demand will accelerate in mid-calendar 2006, based on upcoming positive seasonality and new form factor iPods,” wrote Munster in a research note yesterday. The analyst also noted that he feels there is a 75% chance that Apple will debut a new “iPhone: within the next year, notes the story.

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