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Monday, 10/04/2004 7:59:44 AM

Monday, October 04, 2004 7:59:44 AM

Post# of 147294
06:31 AAPL Apple Computer tgt raised to $44 from $39 at Merrill Lynch (38.75 )

Merrill Lynch out positive on Apple raising price tgt to $44 from $39 and increasing their F2005 estimates from $0.90/$9.53 bln to $0.95/$9.79 bln. Firm believes the iPod market has been underestimated and that Apple will gain small increments of PC share (half a point is about $1 bln in sales) thanks to the halo effect from iPod, retail store support, the new iMac product cycle, better supply of G5 chips from IBM, and Apple's lack of viruses. Believes Apple could earn $1.83 per share in 2007 and $2.26 per share in 2008 in a strong case scenario. Maintain Buy.
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