Zachs Investment Research (http://www.zacks.com/performance ) says Apple has “experienced tremendous growth, driven by the success of its iPhones and increased Mac shipments.” In the research firm’s opinion, the new iPhone 4 will be another milestone achievement for the company, helping it continue on its growth path.
“Moreover, we are highly positive about the company’s iPad launch, which is expected to revolutionize mobile computing and will provide a boost to the company’s revenues and earnings in 2010,” Zachs said in a recent report. “The second-quarter results beat the Zacks Consensus Expectation on the back of strong iPhone sales, increased Mac sales, new product launches, increased consumer spending and a rebound in computer shipments. We expect the company to report stronger results going forward, thereby providing above market gains. Hence we upgrade the rating on the stock to Outperform.”