Apple stock value climbed by $1.61 per share yesterday when the analysts at Citigroup raised its rating on the company, citing future product releases as catalysts for the move.

Analysts say that new product releases, application upgrades and falling component prices will give Apple's business positive momentum in the months ahead.

Citigroup analyst Richard Gardner raised his rating on the stock to 'Buy' from 'Hold', but left his 12-month target price static at $105 per share.

The Apple TV, iPhone, Mac OS X, upgraded pro applications and the release of Adobe CS 3 should: "Catalyse a hardware- and software-upgrade cycle within the creative professional market."