Credit Suisse maintained an "outperform" rating on Apple Computer on the heels of the company's new product announcements yesterday.

The Palo Alto, Calif.-based computer maker unveiled a big portable speaker dubbed the iPod Hi-Fi and a new version of its Mac Mini computer.

Analyst Robert Semple of Credit Suisse noted that Apple has now switched about half of its Mac lineup to chips made by Intel. "We continue to believe the most important transition to Intel will in occur in iBook, given its $999 price point has mass market appeal," he wrote in a recent research report.

The Hi-Fi, with a price tag of $349, is more expensive compared with third-party iPod accessories items made by Bose, JBL and Altec Lansing, the analyst said.

"We expect Hi-Fi to be successful, but do not believe it will be a blockbuster product as its functionality is very similar to that of the Bose, which is still recognized as a leader in acoustics."

Despite Semple's tempered expectations for the Hi-Fi, the research analyst said the product launch is a harbinger of things to come and expects Apple to roll out more peripheral products.

"To date, Apple has been very accommodating to those vendors looking to capitalize on the iPod hysteria," he said. "However, as the iPod installed base grows, it is increasingly critical that Apple maintain a dominant presence in peripheral products, where margins can be up to 3 to 4 times those of iPod."

The analyst has a $90 price target on Apple.

"Fundamentals at Apple remain very strong despite potential x86 transition issues and iPod seasonality in the March quarter," said Semple.

"We believe that near-term issues will resolve themselves and expect Apple to maintain its dominant presence in music and remain a market share gainer in PCs throughout 2006."

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