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  Apple Seen Positioned To Grow Earnings
Time: 10:40 EST/15:40 GMT | News Source: Forbes.com | Posted By: Byron Hinson

UBS Securities initiated coverage on Apple Computer at "neutral 2" with a price target of $23. UBS said the maker of computers and digital products is "uniquely positioned to show improvement in earnings over the next two years." "Apple has reinvigorated its brand through digital music players and download services, as well as most recently with a breakthrough PC (G5)--and these offerings could drive in near-term upside to earnings and revenues," the research firm said. UBS said Apple has a "very solid financial position" and that by the end of fiscal 2005 the company could have about $4.8 billion in cash, or about $13 net cash per share.
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