“So we just got a nice $10 correction on Apple (AAPL). Maybe some folks were disappointed that Steve Jobs didn’t do backflips at the Apple Worldwide Developers Conference. Whatever it was, Apple is back from its frothy highs, and now we can start talking again about good reasons to buy the stock. I have three for you, and none of them involves the iPhone,” Georges Yared writes for The Motley Fool.
1. Apple’s Safari Web browser for Windows
2. iPod market nowhere near saturation
3. Apple’s incredibly performing and growing network of retail stores
In addition, Yared reports, “The several portfolio managers I regularly talk to from a previous life are still buying the stock for the long term. Five of them in particular have $200-$225 price targets for calendar 2008.”
Full article here.