Apple Stock Expected to Rise in ’10

(Bloomberg) — Apple Inc. (AAPL) shares may advance next year after reaching a record yesterday as the maker of the iPhone and Macintosh computer sells more handsets and introduces new products, analysts said.

“Apple remains the best technology company on the planet,” Brian Marshall, an analyst at Broadpoint AmTech Inc. in San Francisco, said yesterday in a report. Marshall expects Apple’s stock to gain 23 percent to $260 in the next year and recommends buying it. “Its business model is becoming stronger over time.”

Software downloads for Apple’s devices grew 51 percent in December from the previous month, according to research firm Flurry Inc. That signals that sales of the iPhone and iPod Touch jumped during the holiday season. Analysts and investors expect Apple to add a tablet computer to its lineup next year, providing a fresh source of revenue.

news from: businessweek.com/technology/content/dec2009/tc20091230_643329.htm

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