Apple Inc (AAPL)has experienced tremendous growth, driven by the success of its iPhones and increased Mac shipments. In our opinion, the new iPhone 4 will be another milestone achievement for the company, helping it continue on its growth path.
Moreover, we are highly positive about the company s iPad launch, which is expected to revolutionize mobile computing and will provide a boost to the company s revenues and earnings in 2010. The second-quarter results beat the Zacks Consensus Expectation on the back of strong iPhone sales, increased Mac sales, new product launches, increased consumer spending and a rebound in computer shipments.
We expect the company to report stronger results going forward, thereby providing abovemarket gains. Hence we upgrade the rating on the stock to Outperform.Zacks Investment Research
