Apple's stock price climbed on yesterday's market on strength of a batch of positive analyst comment as the company enters its first week of its third financial quarter.
Stock closed up $2.81 on the day's trading at $155.89 per share. It continued its climb on the after hours stock trading market. This follows positive comment from the analysts at Thomas Weisel Partners, who upgraded the company to overweight from market perform with a $195 target price.
Analyst Doug Reid observed strong long-term growth potential for the company, which would help it maintain stronger than market average margins, keep brand loyalty and "set a foundation for accelerating market share gains."
He noted that Apple's continued entrance and domination in new media sectors through products including iTunes and the Apple TV would boost annual sales by 24 per cent over five years.
Reid also observed that Apple's Leopard OS is "better and easier to use" than Vista, a reputation he believes will continue to drive switchers to the platform.
The analyst also says he expects Apple to achieve its ten million iPhone sales target this year, and expects iPhone sales to contribute $2.02 billion to the company coffers this year,