Banc of America reiterates Apple Computer “neutral,” raises target price to $40.00

“Analysts at Banc of America Securities reiterate their ‘neutral’ rating on Apple Computer. The target price has been raised from $34.50 to $40.00,” newratings.com reports.

Currently, Apple is up 26-cents to 39.01 on 4,009,868 share volume.

NASDAQ Apple Computer, Inc. (AAPL) quote (15 minute delay)

12 Comments

  1. As a shareholder I am pleased at the recent peformance of the stock. However, it has a ways to go before it gets back to where it was prior to the 2 for 1 split. Those of us that have held shares since then are still in a negative position.

  2. Your only at a negative if you purchased the unsplit stock at more than $69.00 that would be somewhere between late ’99 and late ’01 otherwise things look pretty good! I bailed at the split and reinvested early last year at under $20.00

  3. Well sure pkradd, if you’re hoping to get your tech stock portfolio to its lofty pre-Nazcrash level, you may have a few decades to wait. Virtually all tech stocks were insanely overvalued at some point during the blow-off to the greatest mania in modern financial history.

    Not to gloat, but my portfolio was actually up significantly during the Nazcrash, despite riding AAPL down, because most of it was in precious metals (BGEIX, PAAS, and NEM) and short funds (URPIX, USPIX, and BEARX). I considered my long position in AAPL a hedge against the inevitable, but unpredictable timing-wise, crash.

    Now SINCE the crash, it’s hard to be too disappointed by AAPL’s 3x appreciation from its lows.

  4. I bought a Mac and used it daily in my professional business for 5 years and cleared over $100,000 a year. The Mac was a big factor in my success.

    Best $3000 I ever spent.

  5. This just shows that the BofA analysts are morons. When AAPL approaches $50, are they going to re-reiterate their “neutral” rating and adjust the target price to $50? Or if AAPL approaches $30, are they going to re-reiterate their “neutral” rating and adjust the target price to $30.

    Given this “news” from BofA, you’d think being a stock analyst is the easiest f****** job in the world.

  6. If you invested in Apple way back then (and I did) you’re a fool for not buying it again and again when it was in the teens. Though I am still in the negative with one purchasee, my purchases since have me very much in the positive.

  7. Bought about $1000 worth of Apple stock in the low teens with Tax Refund leftovers and have watched the stock rise. I sould be able to buy my next Mac with the profit at this rate.

  8. pkradd… (and others)

    please correct me if i’m wrong, but during the AAPL ride (when the first gumdrop iMac was unveiled) … didnt the stock split twice ??

    Yeah, I remember a 2 for 1 split… but didnt it split 3 for 1 as well ??

    Couple of questions for you…

    At what price did AAPL peak before the split(s)…??

    and … do you think there is a good possibility for a repeat performance this time around ?

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