AAPL PE 37.31 and forward PE 28.81 AAPL PUMPERS <pre> 05-May-08 Upgrade AmTech Research Neutral → Buy $210 05-May-08 Reiterated RBC Capital Mkts Outperform $200 → $220 24-Apr-08 Upgrade Morgan Keegan Underperform → Mkt Perform 24-Apr-08 Reiterated RBC Capital Mkts Outperform $190 → $200 24-Apr-08 Reiterated Lehman Brothers Overweight $195 → $202 24-Apr-08 Reiterated Deutsche Securities Buy $225 → $235 24-Apr-08 Reiterated BMO Capital Markets Outperform $160 → $180 22-Apr-08 Reiterated Banc of America Sec Buy $160 → $170 22-Apr-08 Initiated Lehman Brothers Overweight 22-Apr-08 Downgrade AmTech Research Buy → Neutral 21-Apr-08 Reiterated RBC Capital Mkts Outperform $175 → $190 08-Apr-08 Downgrade Morgan Keegan Mkt Perform → Underperform 07-Apr-08 Upgrade Thomas Weisel Market Weight → Overweight $188 → $195 07-Apr-08 Reiterated Caris & Company Above Average $155 → $170 27-Mar-08 Reiterated BMO Capital Markets Outperform $140 → $160 04-Mar-08 Reiterated Caris & Company Above Average $165 → $155 03-Mar-08 Reiterated RBC Capital Mkts Outperform $200 → $175 03-Mar-08 Reiterated Banc of America Sec Buy $180 → $160 24-Jan-08 Reiterated JMP Securities Mkt Outperform $210 → $200 23-Jan-08 Upgrade Needham & Co Buy → Strong Buy 23-Jan-08 Reiterated WR Hambrecht Buy $203 → $218 23-Jan-08 Reiterated RBC Capital Mkts Outperform $215 → $200 23-Jan-08 Reiterated BMO Capital Markets Outperform $205 → $170 23-Jan-08 Reiterated AmTech Research Buy $210 → $175 23-Jan-08 Downgrade Caris & Company Buy → Above Average $225 → $165 08-Jan-08 Reiterated BMO Capital Markets Outperform $200 → $205 03-Jan-08 Initiated Needham & Co Buy $235 17-Dec-07 Reiterated UBS Buy $220 → $235 11-Dec-07 Reiterated Caris & Company Buy $215 → $225 06-Dec-07 Reiterated RBC Capital Mkts Outperform $205 → $215 06-Dec-07 Reiterated Bear Stearns Outperform $243 → $249 25-Oct-07 Reiterated Piper Jaffray Outperform $222 → $250 23-Oct-07 Upgrade Caris & Company Above Average → Buy $200 → $215