“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.
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Splitters!
Do they smell lack of iPod growth and death of PowerPC sales???
I hereby cut Bank of America down to $15. So there.
Snedd:
That does it, I’m closing my BOA acct. What jerks they are.
They’re gonna regret this when I pull out all my savings…. uh oh, my accts overdrawn…..
Talk about a short-sighted analysis!
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.
Wankers!
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.
What a bunch of fools. I would never, ever trust my funds with these assclowns.
Apple stock: down, now under $70.
A runup of 10% to $77 sounds reasonable.
Buy now all you stock wizards.
And remember these stock analysts change their targets all the time.
If it gets closer to $77 and has momentum they will adjust upwards.
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.
My guess-
BOA and other investment firms are all run by John Scully types. They don’t understand the computer industry and especially – they don’t understand Apple.