This Morning: Mostly Cheers for iPhone 5, Intel, Microsoft Beat up over PC OutlookHere are some things going on this morning in your world of tech:Shares of Apple (AAPL) are up $8.45, or 1.3%, at $678.24, as the Street continues to react largely favorably to the company's unveiling yesterday of the latest iPhone model as well as a couple of update iPod devices. Most of the responses I've seen seem positive, thought not all of them.RBC Capital's Amit Daryanani this morning reiterates an Outperform rating on the shares and raised his price target from $700 to $750, writing that the roll-out schedule of the device should promote a sharp uptake when the device goes on sale the 21st of this month. He writes, “Upgrades Begin: We believe the iPhone 5 could be the biggest upgrade in the company’s history. Our initial estimates imply that AAPL could see 8–10M units by end of Sept-qtr, which could result in ~$4–5B of incremental revenues. The rollout of iPhone 5 is much quicker and global vs. historical launches. AAPL will launch the iPhone 5 in the U.S. (three carriers) and eight other countries on September 21, followed by 20 more countries on September 28.”Likewise, Bernstein Research's Toni Sacconaghi reiterates an Outperform rating and raised his price target to $800 from $750, writing that “By December, Apple expects the iPhone 5 to be available in 100 countries at 240 carriers – essentially global distribution. The iPhone 5 will have a faster and wider rollout than previous iPhones, with nine countries at launch compared to seven for the iPhone 4S and five for the iPhone 4.”But Anil Doradla of William Blair, who maintains an Outperform rating, thought the debut fell flat. “Although the company did a commendable job of improving different functions over the previous iPhone, we did not come away with a “wow factor.”Bottom line, relative to prior launches (with Siri, FaceTime, and other compelling applications), there were no game-changing product features.”Intel's (AAPL) annual developer forum continues today in San Francisco with a talk by the company's chief technology officer, Justin Rattner, at noon, Eastern time. The stock this morning is coming under some pressure, though it is up a penny at $23.29 after falling to a low of $22.83 amidst continued concern over the state of the PC market.Citigroup's Glen Yeung, who cut his rating on shares of Intel, Advanced Micro Devices (AMD) and Marvell Technology Group (MRVL) to Hold from Buy, after traveling through Asia, observing broad-based weakness in the PC-related chip market. Writes Yeung, “our downgrade today reflects our checks in Asia (we are currently in Taiwan) that stoke our concerns that the intermediate term prospects for PC’s do not look optimistic. Robbed of catalysts, we see limited likelihood PC-related shares will appreciate meaningfully in coming months, despite valuations. Our 2013 estimates are revised down to reflect a -1% PC unit growth rate and price targets are reduced accordingly.”Yeung adds that it doesn't look like Microsoft's (MSFT) Windows 8 operating system will be the catalyst it should be.Speaking of Microsoft, Jefferies & Co.'s Ross Macmillan this morning initiates coverage of the software giant with a Hold rating and a $35 price target, writing that Microsoft will struggle to enjoy an upgrade cycle with Win 8 like it has in past given the novelty and complexity of the software.“PC users lose familiarity and are placed on a new learning curve, while tablet/ hybrid devices users must choose W8 devices over strong competitors. Other challenges include building the app ecosystem for the ARM platform and pricing devices competitively while maintaining the economics of the OEM model. We conclude that W8 could see a somewhat muted consumer PC cycle and increased share in tablets may come at the cost of some price compression.”Microsoft shares today are down 18 cents, or 0.6%, at 30.60. Welcome to My Store www.office2010forsale,Recommended Products:microsoft office 2010 microsoft office 2007 office 2010 professional