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Apple shares surge after Goldman Sachs ups price target

Thursday, October 11, 2007 · 9:44 am · 36 Comments

Shares of Apple Inc (AAPL) surged $2.36 in early NASDAQ trading this morning, after Goldman Sachs raised its price target to $190 from $165.

AAPL shares rose to $169.15 from their Nasdaq close yesterday of $166.79.

Apple’s 52 Week High (intraday) stands at $171.11, set on Tuesday, October 9, 2007.

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36 Comments

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AAPL

Thursday, October 11, 2007 - 9:46 am · Reply

Go baby, go
Coule

Thursday, October 11, 2007 - 9:49 am · Reply

I’m missing the MDN-quote:

“”I am putting a sell on Apple, the company that created the iPhone,” Laura Goldman, investment advisor, LSG Capital, May 21, 2007. AAPL closed at $111.98 that day. Apple has risen 50% since Goldman’s “sell” recommendation.”

MW: values!
@Coule

Thursday, October 11, 2007 - 9:55 am · Reply

Trading day has just started. There’s still time.
DLMeyer

Thursday, October 11, 2007 - 9:55 am · Reply

The stock is worth nothing to the consumer until it is sold. You could become a paper millionaire over night and not pay a cent of taxes – and be a pauper the very next day. Unless Apple plans to buy a new business, like it did with Logic, for example, this is of little import.
My Roth IRA account grew by 5% this past month. Lovely news, but I’m holding off on spending it for several years. My expectations are not that grand.
Dave
Alan Greenspan

Thursday, October 11, 2007 - 9:58 am · Reply

I think we all agree with Dave that he is brilliant.
G Spank

Thursday, October 11, 2007 - 10:07 am · Reply

…and the money in your bank is worth nothing until you spend it?
Zune Tang

Thursday, October 11, 2007 - 10:10 am · Reply

More wishful thinking from analysts who don’t know better.

Here’s some real analysis from the trenches: the IT guys where I work. They say MACs are proprietary, expensive and they can’t play games. And one more thing for the analysts: Haven’t you heard of a little something called Zune 2? It’s coming this holiday season and they’ll be flying off the shelves. Nice try, Apple.

Your potential. Our passion.™
Another thought

Thursday, October 11, 2007 - 10:11 am · Reply

Buying other companies does not a great company make. Apple’s growth in sales, revenue and stock valuation are the result of organic growth from innovation. Companies that try to grow through acquisitions don’t usually end up stronger. It’s what Peter Lynch of Fidelity once termed “deworsification.”

I once worked for a large multinational agricultural and consumer products company. They made their growth in cake mix, cereal and grain trading. But along the way, they decided to buy companies and diversify. So they bought brands like Chemise Lacoste, Eddie Bauer, Talbots, Olive Garden and Red Lobster. That made the company larger, but depleted its cash reserves, took on massive amounts of debt, and in the end, stalled the company’s growth. Why? Because what does a grain company know about running a maker to shirts for tennis and golf? Zip. Nada. Nothing.

The result: several years later, some heads rolled. Stockholders got PO’d. And the company unceremoneously sold off all the acquisitions that had, in the end, hurt the company’s growth and financial position. That’s deworsification.

So if you ask me whether Apple should grow by acquisitions, I will give you a long look. Perhaps acquiring a small company like Logic makes sense. It fits Apple’s strategic plan. But big mergers only make Wall Street firms and big law firms happy – they might be the only entities to profit in the end. If you look at Apple, it’s a company that has done extremely well by NOT diversifying and buying this company or that. Apple is experiencing amazing growth for a company its size, and today, Apple is sitting on a mountain of cash and zero long-term debt.

THAT is what I call a good investment.
Rob

Thursday, October 11, 2007 - 10:18 am · Reply

Yes, but acquiring Adobe would make sense.
@Zune Thingie

Thursday, October 11, 2007 - 10:21 am · Reply

Zune is so “over before it even started”…

MW: Going…like Zune is going down…
Dextroamphetamine

Thursday, October 11, 2007 - 10:51 am · Reply

Good news, but I get strangely uneasy with announcements from a firm with gold, man and sacks in their name. It sounds like Gert Fröbe in a low budget porn film.
Macperson

Thursday, October 11, 2007 - 11:06 am · Reply

A teenager getting a Zune instead of an ipod touch or iphone for Christmas will probably break down in tears.

Bill should seriously get some industrial designers who actually have some artistic sense. A Zune is like is like a junky car with a lousy engine whom the owners make excuses by saying “hey it’s not a Porsche but it’s got an extra cup holder and besides I LIKE fiddling around fixing the leaking engine”

Microsoft one year stock rise: 12%
Apple 132%! Enough said!
Dextroamphetamine

Thursday, October 11, 2007 - 11:12 am · Reply

“A teenager getting a Zune instead of an ipod touch or iphone for Christmas will probably break down in tears.”

In some states, you can report the parents to Child Protective Services. There are many squirt-free foster homes out there.
doc

Thursday, October 11, 2007 - 11:43 am · Reply

Tthe pe is too high.
Michael Farr

Thursday, October 11, 2007 - 11:44 am · Reply

If my IT guys said they didn’t like Macs because you couldn’t play games on them I’d have to consider buying more Macs.
Macperson

Thursday, October 11, 2007 - 12:10 pm · Reply

I got out of a tech mutual fund some years ago because the PC centric manager only bought PC stocks like Dell.

Windows users who buy Windows centric stocks because of loyalty are nuts.

5 Year stock change:
Microsoft: 37%
Dell: 6%
Apple: 2199%!

Imagine if you had put one buck in each of those stocks 5 years ago. Then imagine if you had put 1000 bucks.
DLMeyer

Thursday, October 11, 2007 - 12:11 pm · Reply

Why, Alan, thank you so very much for your approval and agreement.
G Spank, dollars are worth dollars – a reasonably stable amount. Should you go into a grocery store for food, you wouldn’t need to check the value of the dollar to see how much bread your ‘bread’ can buy. Nice try, though.
Rob, I don’t know why Apple does not already own Adobe! Are they waiting for the price of the stock to double yet again? Foolish of them, if that is the case. Apple stock is currently over-valued, use it while that is still the case. Adobe would be a good match for Apple, and newer versions – for OSX – would get out the door much sooner than they have in the recent past.
Dave
ChrissyOne

Thursday, October 11, 2007 - 1:44 pm · Reply

“My Roth IRA account grew by 5% this past month. Lovely news, but I’m holding off on spending it for several years. “

Your IRA isn’t really worth anything until you cash it out, either. A dollar bill isn’t worth anything at all until I find someone who will give me things for it.
And in the last month, my AAPL has gained about 25%. I also raided my 401k from my last job and bought a bunch in February, and as of today that purchase has doubled. 100% in 8 months.
It’s kinda hard not to get excited about that.

-c
KenC

Thursday, October 11, 2007 - 2:25 pm · Reply

C1, that’s funny, I bought at the beginning of Feb as well, after considering the impact of the iPhone announcement, at $85. I’m quite happy with today’s double!
LiesDamnLies

Thursday, October 11, 2007 - 2:29 pm · Reply

Microsoft one year stock rise: 12%
Apple 132%! Enough said!

Microsoft ~20 year stock rise, 30,000%
Apple ~20 year stock rise, 5,000%

Enough Said!