Apple Boosted By "Cyber Monday" Sales
Shares of Apple Inc. rose Tuesday morning after an analyst noted online demand for iPods outstripped supply during the "Cyber Monday" shopping spree.
Shares gained $1.89 to $174.43 after the opening bell.
Morgan Keegan & Co. analyst Tavis C. McCourt kept his "Market Perform" or "Hold" rating on the Cupertino, Calif., computer company. After the Cyber Monday and Black Friday rush, the 8-gigabyte and 16-gigabyte versions of the iPod Touch are on backorder at some of the Internet's leading retailers, and the 80-gigabyte iPod Classic is on backorder at least at one, he said.