S&P reiterates ‘Buy’ on Apple Computer, raises price target to $110

Standard & Poor’s Equity Research Analyst Richard Stice reiterated his “Buy” recommendation on shares of Apple Computer (AAPL: 4 STARS), writing in a note to clients, “We believe growth in unit sales of Macs will continue to be a positive catalyst over the next 12 months. In the September quarter, this product line expanded at a rate of over 30% in the U.S. In addition, we see new Apple product offerings, including an updated operating system, iTV, and possibly an iPhone, benefiting the company’s results. Based on updated discounted cash flow and price/sales analyses, we are raising our 12-month target price by $19 to $110. Given our view of Apple’s favorable market position and product innovation, we advise purchase of the shares.”

Full article here.

[Thanks to MacDailyNews Reader “LinuxGuy and Mac Prodigal Son” for the heads up.]

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2 Comments

  1. It is interesting, isn’t it, that 12 month target prices are exceeded in a few weeks after being set? You might think that Wall Street would admit that they don’t know how to measure Apple’s potential. But the arrogant anal-ists will never do that. This coming year will be spectacular for Apple and AAPL.

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