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Piper Jaffray ups Apple price target to $100

Stock broker Piper Jaffray has increased its price target from US$52 to $100 due to its recent survey of iPod owners, reports CBS Marketwatch. “We believe that the remarkable satisfaction with the iPod creates a word-of-mouth wildfire that generates new customer interest in Apple products,” the broker told clients. “The bottom line from our survey is that 13 percent of iPod users in our sample users were formerly PC users that, following the purchase of their iPod, have already either purchased a Mac (6 percent) or are planning to buy a Mac within 12 months (7 percent).”

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