Short Take: Apple gets upgraded

Apple Computer was upgraded to "buy" from "attractive" by Bear Stearns analyst Andrew Neff. He said that Apple shares are trading at the lowest valuation in computer industry, and noted that Apple's several new upcoming product cycles were the key drivers for the upgrade. Apple shares approached their 52-week threshold following the rating change, trading as high as 29.50, just 25 cents below their high.

May 4, 1998 2:30 p.m. PT

was upgraded to "buy" from "attractive" by Bear Stearns analyst Andrew Neff. He said that Apple shares are trading at the lowest valuation in computer industry, and noted that Apple's several new upcoming product cycles were the key drivers for the upgrade. Apple shares approached their 52-week threshold following the rating change, trading as high as 29.50, just 25 cents below their high.