Two analysts raised their target prices for APPLE COMPUTER INC. (68.57, up 4.11 @ 9:42 a.m. EST) shares, citing strong sales for iPod digital music players. The shares have been trading at four-year highs over the past week after a Piper Jaffray analyst nearly doubled his 12-month price target on the stock to $100. Now, Merrill Lynch raised its price target for Apple shares to $78 from $61, saying iPod sales may grow as the product line is expanded. UBS also raised its price target to $77 from $66. UBS analyst Ben Reitzes wrote in a research note, “We believe higher-margin Photo iPods and Minis are selling very well, along with iMacs and accessories, and expect momentum to continue.” (Information provided by Reuters)

Two analysts raised their target prices for APPLE COMPUTER INC. (68.57, up 4.11 @ 9:42 a.m. EST) shares, citing strong sales for iPod digital music players. The shares have been trading at four-year highs over the past week after a Piper Jaffray analyst nearly doubled his 12-month price target on the stock to $100. Now, Merrill Lynch raised its price target for Apple shares to $78 from $61, saying iPod sales may grow as the product line is expanded. UBS also raised its price target to $77 from $66. UBS analyst Ben Reitzes wrote in a research note, “We believe higher-margin Photo iPods and Minis are selling very well, along with iMacs and accessories, and expect momentum to continue.” (Information provided by Reuters)