iPhone - a day later - AAPL continues to climb

Not surprisingly, Apple Computer Inc. (NASDAQ:AAPL) shares are the most active ones on the market today, surpassing even the Nasdaq Trust shares volume earlier in the morning. AAPL shares continue their climb, gaining another 5% in value.

Some have mentioned that the iPhone isn't that "smart" -- Brian White will be expanding on that point. Therefore, Research in Motion Ltd. (NASDAQ:RIMM) and Palm Inc. (NASDAQ:PALM) shouldn't worry so much as the heavy business users will most likely have to continue to use the Treo and the Blackberry.

RIMM, which lost nearly 8% of its value yesterday is rebounding somewhat today. RIMM shares up more than 2%. PALM, which lost over 5.5% yesterday on the news, is also positive today. PALM shares are up 0.5%.

There wasn't a flurry of upgrades for Apple, but there were many price target adjustments from Prudential - $90, Merrill Lynch - $112, UBS - $118, Bear Stearns - $120, Credit Suisse - $120 and Deutsche Securities - $125.

There is also more concern over the price tag, but it seems that -- assuming the market is reading consumers' desires correctly -- the iPhone will be a hit when it comes out in about six months.