Barron's: 'Expect Further Gains' From Apple (AAPL)

| About: Apple Inc. (AAPL)

Barron's editor Eric Savitz weighs in on high-flying Apple (NASDAQ:AAPL) in this weekend's edition (sub. req.) -- key excerpts:

Like Google, Apple has befuddled Wall Street's attempts to predict its financial performance or strategic direction, but instead has continued to delight believers with remarkable performance. Some on the Street have grown nervous. But it's too early to call the top...

Jobs also noted that Apple has sold 850 million songs on iTunes, which sounds like a big number but represents just 20 per iPod....

On the negative side, Mac sales in the period were about flat with the September quarter's, missing Street expectations by about 150,000 units. That raises some questions about the sustainability of the iPod's ability to drive Mac sales -- questions that weren't enough to slow down the stock.

In October, when Apple's stock traded in the 50s and the company had just unveiled the video iPod, we advised against taking a bearish stance. In fact, the stock has since gained more than 30 points. Expect further gains. (emphasis added)

AAPL 1-yr chart: