Standard & Poor’s Equity Research lowered its price target on Apple Computer (AAPL) from $83 to $68, citing valuation concerns and reiterated a “hold” rating on the stock. S&P’s new target price reflects a lower multiple on the fiscal 2007 revenue estimate due to “slowing sales related to maturing of the iPod and MP3 player market, and margin pressure as iPod becomes a larger percent of Apple’s sales mix,” S&P analyst Megan Graham Hackett wrote in a research note Tuesday.
• Apple’s brand new iPod Hi-Fi speaker system. Home stereo. Reinvented. Available now for $349 with free shipping.
• Apple’s new Mac mini. Intel Core, up to 4 times faster. Starting at just $599. Free shipping.
• MacBook Pro. The first Mac notebook built upon Intel Core Duo with iLife ’06, Front Row and built-in iSight. Starting at $1999. Free shipping.
• iMac. Twice as amazing — Intel Core Duo, iLife ’06, Front Row media experience, Apple Remote, built-in iSight. Starting at $1299. Free shipping.
• iPod Radio Remote. Listen to FM radio on your iPod and control everything with a convenient wired remote. Just $49.
• iPod. 15,000 songs. 25,000 photos. 150 hours of video. The new iPod. 30GB and 60GB models start at just $299. Free shipping.
• Connect iPod to your television set with the iPod AV Cable. Just $19.
Lehman cuts Apple price target from $80 to $73, UBS cuts Apple from $100 to $95 – April 04, 2006