Apple Inc (AAPL)

[fmikehugo]

08:22 AAPL Apple Computer target raised to $42 at UBS (35.49 ) -- Update --

After meeting with the CFO and completing a series of checks, UBS raises estimates on Apple. The firm's FY05 est goes to $0.95 from $0.85 and FY06 to $1.15 from $1.05. Even with CPU shortages, the firm believes the iPod multiplier effect is helping Mac sales. The firm raises its target to $42 from $37.