Apple's new product range has consolidated analyst sentiment favouring good long and medium-term prospects for the company's stock.

American Technology Research analyst Shaw Wu echoed feeling across the analyst community in a note released to clients following Apple's announcements Tuesday evening.

Wu reiterated his "Buy" assessment on the stock, citing a 12-month target price of $185 per share, around the mid-point of prevailing analyst opinion on the stock. Current estimates range from $125 per share (Prudential, WR Hambrecht) to $205 (Piper Jaffray) per share.

The American Technology Research analyst notes: "We find the new iMacs impressive with their thinner and sleeker aluminum and glass enclosure (similar to iPhone), new Intel Santa Rosa platform with faster Core 2 Duo processors, advanced ATI Radeon HD graphics, and lower price points. We believe the entry-level model with large 20-inch widescreen will sell particularly well."

The analyst also notes the timing of the product launch, observing that it comes as US schools and colleges get underway with this year's technology purchase.

Wu also notes that Apple's laptops continue to sell well, predicting 1.95 million Mac sales in the current quarter, up 11 per cent sequentially and 21 per cent year-on-year.

He adds: "While we do not anticipate iLife and/or iWork to be large stand-alone revenue contributors, we do believe both updates help further differentiate Apple from competitors (particularly iLife with its digital lifestyle applications)."

The analyst recommends buying Apple shares on any "pull-backs".

The company's stock currently stands at $134 per share.