Apple's MacBook Pro is flying off the shelves, an analyst has stressed.
Piper Jaffray analyst Gene Munster rates Apple as an "outperforming" stock with a $103 price target. Munster warns that Apple may not be able to fully benefit from the pent-up demand for its new pro-portable, but expects the company to increase production to meet demand.
"We are recommending purchase of Apple shares, given that controversy surrounding limited availability of the new MacBook Pro appears to be priced in," the analyst wrote, as reported by Forbes.
Munster has checked supplies at 40 US Apple retail stores - just four shops had MacBook pros in stock: it's not bad news - 70 per cent of the stores he checked (28 out of 40) have a waiting list for the new product.
"Demand for the MacBook Pro is clearly not an issue," said the analyst. However, with supplies so short, Munster warns that his estimated Mac unit sales forecast of 1.29 million may be "overly aggressive".