“Senior analyst Shaw Wu of American Technology Research today removed Apple from the firm’s Focus List due to increased hype over Apple’s expected cellular handset. ‘While we remain long-term positive, we believe Apple shares may reflect too much near-term cell phone optimism,’ wrote Wu,” MacNN reports.
MacNN reports, Wu wrote, “‘We would not be surprised to see a near-term pullback and would be aggressive buyers at lower levels (low-$70s, high-$60s).'”
“The firm maintains its ‘Buy’ rating on Apple shares with a $91 price target,” MacNN reports.
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Analyst Wu: Apple ‘iPhone’ finally ready for production – September 05, 2006