On the morning of Samsung's Galaxy S4 event, Apple gets a rare upgrade

BTIG's Walter Piecyk rates Apple a "buy" for all the wrong reasons

Note the spike at 7:50 a.m.

FORTUNE -- Apple's (AAPL) share price popped $3.50 in pre-market trading shortly after 7:50 a.m. Thursday. That was just about when -- to the minute -- BTIG's Walter Piecyk e-mailed clients a note upgrading the stock from "neutral" to "buy" for reasons that are so perverse only Piecyk's words can do them justice:

"Apple will soon report quarterly results which might not only miss its own guidance but could also include guidance for the upcoming June quarter that is $5 billion below consensus. Samsung, its toughest competitor, is announcing its latest Galaxy phone later today that is sure to dominate the headlines in the coming days and resurface questions of whether Apple's reign has ended. Meanwhile, the management team can't seem to figure out what to do with its $150 billion cash hoard and the Apple TV feels like a distant dream. If that's not enough, our Fiscal 2013 EPS estimate is $3 below a consensus estimate that has fallen $10 since its peak and reflects no growth from last year. What better time to upgrade the Stock?

Piecyk, to his credit, has more to say. He's also lowered his price target (to $540). You can read all about it at Upgrading Apple to Buy.

Posted in: Apple, BTIG, Price target, Upgrade, Walter Piecyk

• Androids update faster than iPhones

  Over the Air (OTA) updates, like those issued on most Android phones, bring more rapid movement to a new platform than desktop updates like Apple's iPhone utilizes.

  According to Localytics, Android phones who receive OTA updates are much more likely to update to new mobile OS's than users who must use the desktop to update.  The illustration below compares the adoption of a new OS by iPhone 3GS users who must use their MORE

  Seth Weintraub - Sep 15, 2010 7:27 AM ET
  Posted in: Droid, Froyo, iPhone, Upgrade

• Apple (finally) updates its MacBook line

  Faster processors, better graphics and longer battery life. The prices stay the same.

  Apple (AAPL) on Tuesday issued a long-awaited update to its most popular computer line, the MacBook Pro. It had been 309 days since the machines were last refreshed  -- 109 days longer than average.

  The update covers six basic configurations, divided into two broad categories: two 13-inch models built around faster versions of the Intel (INTC) Core MORE

  Philip Elmer-DeWitt - Apr 13, 2010 9:24 AM ET
  Posted in: Apple, Intel, MacBook Pro, Upgrade

• Windows 7 student upgrade hell

  Microsoft's big launch, it turns out, was not entirely trouble-free

  College students who took advantage of a "deal too sweet to pass up" have run into a bit of trouble.

  The $29 electronic version of Windows 7 Home Edition sold for Microsoft (MSFT) through Digital River (DRIV) doesn't seem to install properly on some 32-bit Vista machines.

  Apparently the download files weren't properly packaged and when some users tried to "unload the MORE

  Philip Elmer-DeWitt - Oct 24, 2009 8:03 AM ET
  Posted in: Apple, Microsoft, Student, Upgrade, Windows 7