Apple shares shot up 2.4 per cent on trading yesterday after analysts at Citigroup raised their rating on the stock to "Buy".

Other analysts have recently pointed to Apple's stock as a buying opportunity, citing industry leadership and strong expectations of new products to boost the company's bottom line.

Citigroup analyst Richard Gardner raised his rating to buy from hold, saying that recent negative concerns about Apple have now been priced into the shares.

Gardner also lent his weight to recent rumours of a mass product roll out around the company's 30th anniversary on April 1. He expects Intel-powered iBooks and an iPod with video will debut.

"Most of the risk associated with the Intel transition and iPod transitions will be behind Apple in time for the back-to-school selling season," he wrote.

Analysts at Piper Jaffray, Needham & Co and American Technology Research have all offered upbeat Apple analysis in recent days.

In a client note yesterday, Piper Jaffray analyst Gene Munster repeated his "outperform" rating on the company. He predicts Apple's iPod shipments will either match or exceed Apple's 9 million target sales.

Andrew Neff over at Bear Sterns also thinks the wind is in Apple's sails. He offered a $103 per share target price and an "outperform" rating on the stock. He said that the recent weakness in stock price "represents an attractive investment opportunity".