Piper Jaffray raised its target price on Apple stock to $100 from $52, citing a “halo effect” from satisfied iPod users.
The firm said that in a survey of 200 users, 6 percent were former PC users who have purchased a Mac after becoming an iPod owner, while 7 percent were former PC users who plan to buy a Mac within the next 12 months.
“We believe that the remarkable satisfaction with the iPod creates a word-of-mouth wildfire that generates new customer interest in Apple products,” Piper Jaffray said.
