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2010, year of the Apple? Tech firm owns gadgetry

Apple Inc.’s iPad and bustling retail business have encouraged investors to shrug off the shaky economy and snap up the company’s shares as 2010 comes to a close.

Apple Inc.’s iPad and bustling retail business have encouraged investors to shrug off the shaky economy and snap up the company’s shares as 2010 comes to a close.

Checks by analysts over the past few weeks indicate strong demand for a number of Apple products, which has pushed its shares up as much as 9 percent over the past month.

Wall Street expects the company to post revenue of more than $24 billion in the December quarter, up 50 percent from last year. That would leave Apple trailing only Hewlett-Packard and IBM in sales among U.S. technology companies.

“People want to be involved in Apple shares headed into the year-end,” said Gleacher & Co. analyst Brian Marshall.

December has been a moneymaker for Apple since it launched the iPod nearly a decade ago. The success of the iPhone and resurgent sales of Mac computers have since bolstered its lineup.

 
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