“The recent news concerning Apple’s stock options investigation alongside Steve Jobs’ decision to hire legal counsel came as no surprise to senior analyst Shaw Wu of American Technology Research, who saw the dip in stock pricing as an opportunity for nimble investors. ‘We have been looking for a pull-back in Apple shares to get more aggressive on the long side,’ Wu wrote in a research note obtained by MacNN. ‘For those who missed yesterday’s window, we do not think it is too late to step in,'” MacNN reports.
“‘Given the widespread nature, we doubt the SEC and Department of Justice will pursue a broad ‘witchhunt’ forcing key executives to step down that would undermine the recovery of the U.S. economy,’ said Wu. ‘We do not believe it makes sense for the U.S. government to nail Apple and Steve Jobs, one of the most respected American companies and businessmen of the past 100 years. […] We believe a more likely scenario by the U.S. government is tighter enforcement on options backdating to ensure it doesn’t happen again,'” MacNN reports.
MacNN reports, “Shaw Wu reiterated his ‘buy’ rating with a $99 price target based on checks of strong December quarter momentum and a strong product pipeline in 2007.”
More in the full article here.
AppleInsider also covers the story here.
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Shares of Apple Computer fall 5% in pre-market trading – December 27, 2006
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Analyst: Anderson, Heinen may be former Apple executives responsible for irregular options grants – October 05, 2006
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Apple’s special committee reports findings of stock option investigation – October 04, 2006
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Google CEO Dr. Eric Schmidt joins Apple’s Board of Directors – August 29, 2006
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Big Al: “It’s all probably paid Microsoft FUD.”
Here’s my guess. It’s all the same person. And his first name rhymes with Sleeves and his last name rhymes with Mallmer. Beats actual innovation.
All will be forgotten during Steve’s demo at MW when showing Leopard and using Time Machine to go back fix this mess.
Options? What options??? Oh, and one more thing…