CUPERTINO, Calif. (
) -- With the iPhone headed to China and cheaper MacBooks coming for the holidays, Thomas Weisel Partners raised
stock price target Monday.
Weisel put the new price at $210, up from the previous target of $180, which Apple shares have surpassed in recent days. Apple has been on a year-long run reclaiming much of the share value it lost in a tough 2008.
And while the MacBook will play a big role in the upcoming year-end sales, Weisel does not expect Apple to introduce the
Tablet until midyear 2010.
Apple also said Monday that it has now passed the 2 billion downloads mark at its App Store. Apple keeps 30% of the app sales, which Sanford Bernstien analysts estimate equal about 1% of Apple's total revenue. A large portion of App Store downloads are also free.
Apple shares were up 1% to $184.30 in premarket trading Monday.
Written by Scott Moritz in New York