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Piper Jaffray adds Apple to Alpha list, expects material upside in next 90 days

Monday, November 19, 2007 - 12:38 PM EDT

"Investment bank Piper Jaffray on Monday added shares of Apple Inc. to its Alpha list, a short-term categorization meant to place extra emphasis on companies whose shares hold potential for significant near-term appreciation due to particular catalysts and market conditions," Katie Marsal reports for AppleInsider.

"'We are adding Apple to the Alpha list, expecting material upside in the next 90 days,' Sr. Analyst Gene Munster informed clients in a research note. 'Given their recent pull-back, shares of Apple should benefit from sales of Apple's most innovative product lineup ever during the seasonally strong December quarter as well as new product announcements at Macworld in January,'" Marsal reports.

"In supporting his new recommendation, the analyst noted that shares of the Cupertino-based cpmpany over the past four years have increased by an average of 42.5 percent between October 1 and December 1," Marsal reports.

More in the full article here.

[Thanks to MacDailyNews Reader "Fred Mertz" for the heads up.]

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