Needham & Co.’s Charlie Wolf this morning offers up to clients the observation that Apple’s (AAPL) Mac computer business will continue to expand faster than the PC market “propelled by the twin halo effects emanating from the iPhone and the iPad” as more retail stores are opened.
Wolf, who maintains an Overweight rating on Apple shares and a $620 price target, points to Apple’s 25% increase in computer sales in December versus a 1.7% drop in PC shipments worldwide. He notes Mac market share in PCs reached 5.6%, “its highest in 16 years, while its share of PC revenues rose to 11.3%.”
Apple Mac shipments made up all the growth of the PC market last year “and then some.”
Apple shares today are up $1.85 at $527.61.
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