Piper Jaffray initiates Apple Computer coverage, sets target price to $30

Friday, April 30, 2004 · 3:24 pm · 11 Comments

Analysts at Piper Jaffray today announced they have initiated coverage of Apple Computer (AAPL) with a “market perform” rating. The target price is set to $30.

Nasdaq AAPL quote (15 minute delay) here.

Categories: MacDailyNews, News

11 Comments

Spaceman Spliff

Friday, April 30, 2004 - 5:16 pm · Reply

This is good right?

Friday, April 30, 2004 - 5:20 pm · Reply

yeah is it?

maczac

Friday, April 30, 2004 - 5:28 pm · Reply

Yes it is, as Piper Jaffray is an old money firm…

King Mel

Friday, April 30, 2004 - 5:39 pm · Reply

Ironically, AAPL is down $0.99 today to $25.78. A target price should be presented in the context of a timeframe and with rationale. I’ll sell PJ all the AAPL that they want at $26.50

AAPL movements are hard to judge, anyway. Often it goes up on rumor and down on the news, even when the news meets of beats the expectations based upon the rumors. Sometimes it goes up on good news, sometimes down. Sometimes what I see as good news (i.e., high demand for iPod mini) is perceived as bad news. One month the iPod mni is overpriced and won’t sell well. The next month the preorders and sales are so high that Hitachi can’t supply the 1″ HDD’s. Yet the price might drop on the news involving the high demand. Can’t figure it, but still trying. At least I guessed the short-term high pretty well this time, since I got out at $28.99.

One guy from Finland

Friday, April 30, 2004 - 5:41 pm · Reply

I bought some more of AAPL.
Waiting that to go over $45.
I am actually waiting for some dividend
Good companies do pay dividend so that the P/E is nice and cool 10.

mike

Friday, April 30, 2004 - 5:42 pm · Reply

not to make a blanket statement..but investors love three things.. market cap..future market cap.. and profit-over-forecast

recently, the mac market is dwindling..but of course their overall profit has been tremendous..

they were extremely overvalued anyway…$27 is fine

Perry

Friday, April 30, 2004 - 5:50 pm · Reply

Good

2Wiseacres

Friday, April 30, 2004 - 6:04 pm · Reply

I think when they say $30 as a target price that is what they are hoping the next iPod to retail for…

Sailfish

Saturday, May 1, 2004 - 2:01 am · Reply

$30 that’s funny, a lot of the top executives at Apple have cashed out of Apple stock last week.

Playfair and the Russian site? Slow PowerMac G5 sales? Still no damm Mini’s?

Apple “hype” over?

NO POWERBOOK G5′s!!! G5 chip too hot to place in iMacs?

Fed and Greenspan talking interest rate hike to slow down the economy, bank interest rates go up which gives a real estate blowout because less people can afford a house and investors lose resulting in economic downturn?

More and more US jobs being outsourced to India?

Stock correction coming? When the analists say up, it goes down.

G-Spank

Saturday, May 1, 2004 - 11:28 am · Reply

I bought back in my 100 I sold at $28.50 (made a quick $200!) but there are concerns as Sailfish has noted. Apple’s ITMS is not one of them, however. The Playfair and the Russian site are miniscule, as with 4.5 Playfair is finished, and the RIAA will take care of the Russian site. Powerbook G5′s – think about how long it took to get G4′s in the powerbooks. This is not a problem, it’s just a fact of people being unrealistic and impatient. The G5 production, yes that is a concern, hopefully IBM will come through. Interest rate hikes? Yes, that will happen and we’ll see how much that affects Apple. But there are good things too: Apple is going to get bigger with the ITMS thing, and the iPod will continue to peak for awhile yet. I personally think that Apple will begin to regain some marketshare. And, as always, I think Steve and Co. have some surprises for us this year. Now is the time to come out with another computer that would have the effect of the original iMac!!!

sjk

Saturday, May 1, 2004 - 3:48 pm · Reply

Re: G5 PowerBooks

Get de-hyped about the G5 PowerBook long enough to read PowerPC RoadMap from Motorola with an open mind.