Banc of America cuts price target on Apple to $77 from $82

“Banc of America cut its price target on the stock, citing Apple’s lower forecasts for iPod and Mac sales,” Reuters reports. “Apple had gained 15 percent in the last two days after the company announced early Wednesday that it would make available free software that would allow Microsoft Corp.’s Windows operating system to run on some Apple Macintosh computers. Apple computers use Apple’s own operating system, called Mac OS X.”

“Banc of America said it cut its price target on Apple to $77 from $82. It retained its ‘neutral’ rating on the stock. Shares of Apple fell 80 cents, or 1 percent, to $70.44 in afternoon Nasdaq trade,” Reuters reports.

Full article here.

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.


  1. They’re just trying to push the price down so they can buy in at a lower price point, meanwhile attempting to “justify” to their clients why they were “profit taking” as the stock dipped towards the 50’s.


    The resurgence of the stock mid-day today proves that BofA is yesterday’s powerhouse, but is struggling to remain relevant in today’s market.

  2. NEVER trust these guys to predict Apple Stock prices because they (and the rest of the world) don’t know what Apple has up it’s sleeve at any one point.
    Investment advice people aren’t used to companies that don’t go public with research and development like secretive Apple. Part of the fun of Apple is not knowing what they’ll do next and just trusting it will be “insanely great.”

    The only reason they gave Apple good ratings before was because it was AFTER the iPod came out and they knew it would have a good run. Now, again, they have no idea what Apple is going to do next. So they stay safe and predict low.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.