S&P upgrades Apple to ‘Strong Buy’ with target price remaining at $110

While the entire [stock options irregularities] scenario is cause for concern, Standard & Poor’s analyst Richard Stice believes [Apple’s] formal disclosures will help alleviate lingering uncertainty for the company. Moreover, Stice thinks fundamental business drivers remain intact.

S&P has upped Apple Computer, Inc. (AAPL) to “5 Stars” (strong buy) from “4 Stars” (buy).

S&P’s 12-month target price remains $110.

More info via BusinessWeek here.

Related articles:
Morgan Stanley ups Apple Computer price target to $110 – December 13, 2006
Caris & Co. initiates Apple Computer coverage with target price of $100 – December 07, 2006
Prudential raises Apple Computer target price to $87 – December 07, 2006
Am Tech/JSA Research reiterates ‘Buy’ on Apple Computer, raises price target to $99 – December 04, 2006
Needham ups Apple target to $115, forecasts Macs capturing 8.3% worldwide market share by 2016 – November 30, 2006
Jim Cramer: Apple Computer is the ‘buy of the century’ – November 29, 2006
Bear Stearns raises Apple price target to $100 – November 29, 2006
S&P reiterates ‘Buy’ on Apple Computer, raises price target to $110 – November 29, 2006
Apple shares rise to record as Mac, iPod sales surge – November 28, 2006
UBS ups Apple Computer target price to $108 – November 28, 2006
ThinkEquity reiterates ‘buy’ rating, raises Apple price target to $110 – November 27, 2006
Analyst sees strong sales of Apple iPods over three-day kick-off to holiday shopping season – November 26, 2006
Apple Computer shares hit new all-time high for fourth straight day – November 24, 2006
Banc of America raises Apple Computer price target, reiterates ‘buy’ rating – November 24, 2006
Apple shares continue upward surge; hit new all-time highs in morning trading – November 24, 2006
Apple Computer shares crack $90, hit new all-time high for third straight day – November 22, 2006
Apple shares hit another new all-time high – November 21, 2006
Expert: ‘Apple will be a triple-digit stock in a matter of months’ – November 21, 2006
Apple shares hit new all-time high – November 20, 2006

3 Comments

  1. I’m not a fan of frauding investors, but I really think a lot of this backdating business is much ado about nothing..

    For one thing I *never* hear mentioned in all the articles referring to this “Scandal” is how Apple’s worth has trippled int he last 4-5 years.

    For a company this size to pull that off, a backdating issue of ~84million is frankly not even a speed bump.

    It’s akin to Bill Gates having to pay for a parking ticket.

  2. My point remains largely the same, regardless.

    Apple has seen a massive expansion in the time in which this “backdating scandal” occurred. No perspective on this is given.. seriously, how worked up do you think Bill Gates would get about that parking ticket? He makes more money in the time it takes him to remove the paper from his windshield than 100x the cost of the ticket.

    People are making this out to be an Enron or Worldcom type deal, when in the scheme of things, it’s really unimportant. If a few execs got paid a bit more than “they should have” while investors were making a fortune off the stock, are people *really* that upset about this?

Reader Feedback

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