Bank of America equity research has upgraded Apple to “buy” from “neutral” and raised its price target to US$79 from $68, citing strong demand for MacBooks and iPod digital music players, notes MarketWatch.

“The broker told clients that depending on whether Apple can generate enough additional unit sales in the second half, it sees upside potential to earnings from iPods of 8 cents to 12 cents a share,” according to the story. “Bank of America noted that it is not taking into account the impact of an Apple phone, which it expects to be introduced in 2007.”

News Source: MacMinute

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