“After taking a hit as part of the large-cap tech sell-off that swept Wall Street earlier this month, Apple’s stock seems to have found some traction,” Nate Pile writes.
The editor of Nate’s Notes explains, “the stock was long overdue for some serious profit-taking, but as painful as the tumble was, I believe that it has helped set the stage for future advances in the stock.”
Pile compares Apple’s fourth quarter 2007 and 2006 earnings numbers — Apple reported revenues of $6.22 billion, and net income of $904 million, or $1.01 per share, as compared to revenues of $4.84 billion and net income of $542 million, or $0.62 per share, in the same period a year ago.
Pile writes, “I continue to believe Apple should among the three largest positions in your portfolio. AAPL is considered a strong buy under $150 and a buy under $175.”
More info about the monthly Nate’s Notes newsletter is available via NotWallStreet.com.
So what’s his price target?
Would you take investment advice from Gomer’s brother?
That’d be “Pyle,” Big Al. Gomer Pyle, no relation to Nate.
yes I am a BUY!!!!
Sell AAPL at $280 or maybe $275 but BUY until then.
ps Pile it on
Apple Inc. will do fine, aapl is going down.
No individual stock should be among the three largest positions in your portfolio. That’s Smart Investing 101. You probably shouldn’t go over 5%. Your largest positions should be in well-diversified mutual funds or ETFs….
“Even if this occurs gradually, and even if there are some offsets from reduced credit demand and increased lending by other sectors, the drag on economic activity could be substantial,” the Goldman economist wrote Friday.
AAPL is a great buy right now. Twelve months from now it will be at $250, driven by Mac market share gains (67%) and iPhone growth (33%). The recent profit taking has stopped and AAPL is now poised to resume its upward trajectory. I’m going to double down my stake in it.
Cheers!
Jake
To those fearful of a recession, note that Apple has plenty of head room in growing Mac market share–it is the closest thing to a recession proof tech stock!
BTW, the recession fears are overblown; there won’t be one.
Shazzam!
“BE”
I suggest you look at the economy at during 1987, 2000, and now. Tell me what the common ground is for all three.
http://finance.yahoo.com/intlindices?e=asia