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Technology Stocks : Apple Inc.

AAPL 261.05

+0.3%

3:59 PM EST

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To: John Carragher who wrote (57568)	10/2/2006 8:16:00 AM
From: Moonray	Read Replies (2) of 213182

Apple cut at Citigroup on valuation, holiday line-up By Aude Lagorce - Last Update: 6:19 AM ET Oct 2, 2006 LONDON (MarketWatch) -- Citigroup cut Apple Computer (AAPL :76.98, -0.03, 0.0% ) to hold from buy, citing valuation. The broker told clients it sees little potential for revenue upside versus consensus in the third or fourth quarter of the year. It said gross margin upside should yield 4 cents to 6 cents of earnings-per-share upside in both quarters but that this is largely priced into the shares. On the product front, Citigroup said recent checks suggest that Apple is unlikely to introduce a new video iPod with a larger screen and "virtual click wheel" before the peak holiday season, as the broker had hoped. o~~~ O

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