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J.P. Morgan ups Apple outlook

Shares of Apple has bumped up 1% to US$86.02, ahead of Macworld Expo this week, reports MarketWatch. “Analyst Bill Shope at J.P. Morgan reiterated his overweight rating, but nudged up his fiscal first-quarter earnings estimate to 82 cents a share from 81 cents and his revenue forecast to $6.61 billion from $6.57 billion, due primarily to greater-than-expected iPod shuffle sales,” notes the story.

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