After reporting better than expected financial results for its 2007 fiscal second quarter, the company’s shares climbed in premarket trading, notes AP. “Analysts polled by Thomson Financial expected 64 cents per share in profit and US$5.17 billion in sales,” says AP. “Bear Stearns analyst Andrew Neff said Apple reported its best gross margins since 1993, and predicted the company will become more diverse. Neff raised his price target to $143 per share from $130, and reiterated a ‘Market Weight’ rating. Morgan Stanley analyst Kathryn Huberty kept an ‘Overweight’ rating and a $110 price target, but said she is growing more confident that the stock will reach $160 per share in the next year.”
