Bear Stearns: Apple is ‘buying opportunity,’ lowers price target to $100 from $103

“Bear Stearns lowered the price target and estimates for Apple Computer to reflect Intel Mac transition issues, but maintained an ‘outperform’ rating on the stock due to confidence in demand for iPods, Macs and more innovative products. ‘We continue to view the stock pullback as a buying opportunity, with Apple’s price-to-earnings at 17 times our calendar 2007 operating earnings-per-share estimate,’ wrote analyst Andrew Neff in a research note Thursday,” Maya Roney reports for Forbes.

Neff remains “optimistic” on Apple with expectations that include an Intel-based iBook, true video iPod, wireless iPod, other innovations in coming months while lowering his 12-month price target to $100 from $103.

Full article here.

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Connect iPod to your television set with the iPod AV Cable. Just $19.

Related articles:
Piper Jaffray: Apple on track to meet or slightly exceed iPod unit expectations – March 13, 2006
Bear Stearns: Current Apple weakness is a buying opportunity – March 13, 2006
Citgroup analyst expects ‘fairly eventful’ Apple announcement around 30th anniversary on April 1st – March 13, 2006
Citigroup ups Apple to ‘buy,’ expects Intel transisiton to be complete in all Macs by August – March 13, 2006


  1. I don’t think so

    I think we will see the opposite, Apple might introduce new products, but the spending spree of Americans has been whittled down by higher cost of living, inflation and mortages.

    I read a article that said new broadband installations have flattened, meaning not as much new folks are signing up for the faster service as before. This can reflect a slowdown in the personal computing market which even Intel is suffering from a rash of loss quarters.

    Apple found a niche with the iPod, it serves a great purpose to be able to carry tens of thousands of songs around, but once the inital demand is met…

    Unless Apple finds a new niche that nobody has touched, a need that people want fullfilled, I doubt we will see any great leap in the stock price.

    In fact I beleive the stock is too high, it’s even higher than Dell which sells more than Apple, this is not right. A adjustment is due and I think it will happen after Apple announces new products, because people are going to say “I don’t want, can’t afford etc” .

    I don’t think Apple has any new products that can turn heads like the iPod did. I think Apple is going to try to invade others turfs with similar products we can already get, like the HiFi for instance. Relying upon their retail stores to sell these items to boost the bottom line.

    The rent is high for all these stores, some as much as $15,000 a sq ft!

    I can see why Apple may be desperate to sell anything, even Mac’s with XP installed on them if they could.

    So since Apple is going to announce “me too” products, there isn’t going to be a great jump in the stock, it might stay stable or even drop to a more realistic level.

    The stock didn’t go up on the HiFi, leather case, etc announcements, it went down, meaning it’s too emotional and short term traders better be wary.

  2. here comes a good one: apple in the macworld that told us about to the transition to intel ,told to us about that,intel to the processors,apple to the inovacion;to the inovacion you got the prove of the ipod hi-fi,next inovations come this year,thats why there was a news about that the year 2006 was the year of apple,Go apple…

  3. Paul,
    While some of what you said in your rant my come true, you give your opinions as if they were facts and then the facts you present are just plain wrong.

    In fact I beleive the stock is too high, it’s even higher than Dell which sells more than Apple, this is not right.

    Apple stock was higher then Dell for a short time in January but the subsequent market correction and/or profit taking has fixed that.

    You say that you don’t think Apple has any new products that can turn heads like the iPod did but don’t understand that the iPod by itself did not turn heads at first. It was not until the iTunes Music Store opened that the iPod really took off.

    The next great thing is never easy to see coming and is often just around the corner. It may be a completely new product or it may be a new way to use existing products but we will not know until it is upon us.

    AAPL will rise and fall, like all stocks do, but I, for one, will not give up; there are too many things that are yet to be invented or improved.

  4. “The coming year will be a good one. Apple at MacWorld told us about the Intel transition, and that whilst Intel were providing the processors, the innovation is left to Apple. For proof of Apple’s innovation, you already have the iPod hi-fi, but the real innovations will come later this year. That’s why there was an announcement about 2006 being the year of Apple. Go Apple.”

  5. The important thing is, Apple has become cool – in the US, in Europe, in Asia, and in Australasia.

    Apple just has to continue developing its products (which it is doing) and bring out a few new products (which it will do) — all the time maintaining its standards and exploiting its advantages (which it is doing) — and Apple sales will soar —

    and AAPL will soar.

  6. Apple’s ‘cool factor’ can be observed in every University in the western world.

    It’s cool to have an Apple ‘book’ under your arm.
    It’s uncool to have a Windows ‘laptop’ under your arm.

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