BofA ups Apple Computer to ‘buy,’ expects ‘iPhone’ in 2007, shares rise in early trading

Apple Computer shares are seeing the benefit of a broker upgrade in early trading today.

“Apple Computer, Inc. rose 2.5% to $67.20 on Inet after Banc of America Securities upgraded it to buy from neutral and raised its price target to $79 from $68, citing strong demand for MacBooks and iPod digital music players.
The broker told clients that depending on whether Apple can generate enough additional unit sales in the second half, it sees upside potential to earnings from iPods of 8 cents to 12 cents a share,” Steve Goldstein and Tomi Kilgore report for MarketWatch. “Bank of America noted that it is not taking into account the impact of an Apple phone, which it expects to be introduced in 2007.”

Full article here.

8 Comments

  1. Well, laddy … when Mister Jobs gets a hold of me transparent aluminum iPod casing and hyperflux integrated communicator bezel, that’ll be all ye need fer the kinda growth yer seekin’, Cap’n.

  2. I wonder when we’ll hear another Sermon on the Mud from “Stock Boy” about AAPL going to $47.

    Come on, SB, let’s hear it!

    By the way, re your recent comment about the PiperJ’s $99 target price and the unannounced time frame for the recommendation . . .

    Whether the $99 figure is 1, 2,3,4, or 5 years out that certainly jump-kicks the poop out of MonkeySoft’s performance over the past five years, doesn’t it? If you bought MS five years ago you’ve enjoyed a whopping 30+% decline in your investment.

    OOOOOOOH! Thank you, sir, may I have another?

    Please, and with all the kindness I can muster, keep shorting APPL, Stock Boy; you’re just helping drive the price up when you and the other puerile WinFanBoys finally have to deliver the stock you don’t own.

  3. I’m waiting for mid October — the next “guidance session” and quarterly report yak fest with Jobs and Wall Street. I’ll bet Apple sells closer to two than one million Macs during this, the 4th quarter. Apple sold about 800,000 notebooks last quarter and MacBooks were only available for about half of that time. With this being the back to school quarter, I say Apple sandbagged the analysts in its guidance. The lid blows off in October. My $$$$ is riding on it.

Reader Feedback

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