Analysts increase their price targets for Apple

Given that Apple sold more than even the highest analyst estimate of iPods (14m vs 11m), many analysts scrambled today to increase their expectations for the stock. Even though Apple did not sell as many Mac computers as expected, analysts are bullish on Apple 06 Fiscal year.

UBS moved their price target from $86 to $100. American Technology Research moved from $77 to $101. Piper Jaffray left their $80 price target on concern over slowdown in sales before Apple fully transitions to Intel processors in all of their products. He did note that Apple releasing the FM tuner remedied the number one reason people bought non iPod MP3 players. Most analysys expect Apple to release new products soon including: a new shuffle, a Mac Mini media server, a cell phone and more media content and a streaming video download service.