“I had the chance to talk with four different British portfolio managers this past Friday, review the 2007 year and discuss the outlook for 2008. Funny, the four conversations ended up circling back to Apple,” Georges Yared reports for BloggingStocks.
Apple recently “stock closed at a new 52-week closing high on Friday at $194.30, almost $20 higher than the November 24 price. Yet, with all this action and performance, recently and all year, the stock is still a buy,” Yared writes.
“My friends the Brits are very bullish on Apple, and are aware of the price targets out there by the various analysts, including mine at $225. These four managers, by the way, manage $16 billion in the U.S. markets collectively. One has done the ‘internal modeling,’ and has a $290-$300 price target by year end 2008, and another has a $375 price target by mid-year 2009,” Yared writes.
“Tea and crumpets aside, Apple is still a buy,” Yared writes.
Full article here.
[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]
MacDailyNews Note: On September 19, 2007 (with Apple shares closing that day at $140.77), Georges Yared wrote, “This may be your last chance to buy [AAPL] here under $150.” On September 25, 2007, four trading days later, Apple shares closed at $153.18. Apple shares have not been below $150 since. On November 24, 2007, Yared wrote, “Currently Apple is at $171 and this may be your last chance to buy it below $175.” On November 28, 2007, three trading days later, Apple shares closed at $180.22. Apple shares have not been below $175 since.
Yared: Last chance to buy Apple shares under $175 – November 25, 2007
Yared: Apple Inc. to surpass IBM market cap before end of Q1 08; $225 price target on AAPL – October 08, 2007
Yared: $200 price target on Apple may prove to be conservative – September 26, 2007
Yared: Last chance to buy Apple shares under $150 – September 19, 2007
Yared: Why Apple has doubled this past year – and could double again – July 23, 2007
Yared: 3 reasons to buy Apple shares now – June 15, 2007
Yared: Apple will be bigger than IBM – May 23, 2007
Georges Yared: ‘This is the time to accumulate shares of Apple, Inc.’ – February 20, 2007