Hi-P: company has been quiet on the corporate front over past couple of days. Stock likely buoyed by recent DBSV upgrade of target price to $1.26 from $0.94. Expects Hi-P’s bet on Apple to pay off handsomely as the iPad continued to gain netbook market share at amazing speed. Tips Apple to become Hi-P’s biggest customer by next year, overtaking RIM which currently contributes 30% of Hi-P’s sales…
Technical outlook appears positive. We note that stock has just pushed past $1.07 resistance level, creating a new 3-yr high. While indicators are overbought, momentum may carry stock to $1.20 levels next.
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