This week, UBS analyst Ben Reitzes emerged from meetings with senior Apple executives convinced that the company is set for future growth.

While Apple's stock has lost around 20 per cent of its gains in recent weeks, Reitzes maintained his "Buy" rating on Apple, and offered a $100 per share price target.

Many investors have been limiting their exposure to Apple, citing concerns that the Intel transition may damage the company's bottom line. Reitzes counters that the risk has already been included within his own models.

Reitzes stressed that Apple's professional desktop Power Mac sales may be impacted by Adobe's decision to delay delivering Intel-native versions of its creative applications until spring 2007.

We believe transition risks are reflected in shares and momentum can build into fiscal 2007 with new products," he said, according to Forbes.

The analyst thinks the rest of Apple's product plans, which include "new iBooks, a 'media hub,' new iPods into year-end, and even a new mobile phone" will defray the impact of slower Power Mac sales. He predicts a 9 per cent decline in Mac sales, but expects these to recover next year.