The risks of Apple's move to Intel processors have been "blown out of proportion", an analyst said yesterday.

Piper Jaffray analyst Gene Munster told clients that the impact of the move against Mac sales has been overplayed by the markets.

A report from Forbes reveals he said that while Apple may not see "significant upside" across the next two quarters as a result of the processor shift, he sees "now as the time to get positioned for the next peak".

Crucially, the analyst revealed that his recent checks confirmed that just 20 per cent of Apple's US resellers had seen a "measurable" reduction in the pace of Mac sales. The rest don't feel that they have been affected at all.

Most resellers told Munster that they expect Mac sales to climb year on year, though iPod sales have fallen slightly in comparison to the rush that greeted Christmas.

Munster anticipates Apple revenue will climb 7 per cent year on year in the current quarter. He thinks Apple stock will exceed average market performance and has a $103 price target on the stock.