Needham initiates coverage of Apple Inc. with ‘buy’ rating on surging Mac, iPhone sales

“Needham & Co initiated Apple Inc with a ‘buy’ rating and a $235 price target, and said with the surging sales of the Macintosh and the iPhone, Apple is poised to begin the second chapter of its growth story,” Anant Vijay Kala reports for Reuters.

“‘The iPod is yesterday’s news. Now the Apple story is all about the Mac and the iPhone,’ Needham analyst Charlie Wolf wrote in a note to clients,” Kala reports.

Kala reports, “Macintosh’s share of the worldwide personal computer market is likely to exceed 7 percent in the next decade, up from the current 3 percent, and the company is expected to post 2008 earnings of $5.25 per share, Wolf said.”

“The analyst was also bullish on the iPhone,” Kala reports. “‘The iPhone has redefined the smart phone market; and with constant innovation it should remain the gold standard of the industry indefinitely,’ Wolf wrote.”

Full article here.

35 Comments

  1. Needham? Who needs ’em. This moron’s arguments are laughable. Nobody and I mean NOBODY is buying a MAC because they’re too expensive and proprietary. The I-Phone is another disaster when you can get a Windows Mobile based Motorola Q for U.S. $99. And another thing, have you heard of a little something called Exchange support, Apple? Neither the MAC or I-Phone have Exchange support relegating both to the 2% market share category.

    The only thing he gets right is when he says “the I-POD is yesterday’s news.” Microsoft released the fantastic Zune 2.0 and the writing is on the wall for the soon to be EOL’d I-POD.

    Your potential. Our passion.™

  2. Always
    Have you noticed it is the three least experienced candidates getting all the coverage on the Democrat side?

    That is good for us Conservatives, but a shame for Biden and Dodd.

    Of course Huckabee and McCain are getting all the press on the right. I guess it balances. (No, I’m not saying the Senator from Arizona isn’t qualified).

  3. 1. Does anyone other than Steve really know what the exact single digit percentage of the market that Macs actually represent – world wide and US?

    2. I hope this guy is right saying there will be more focus on Apple’s computers in the year ahead.

    The sudden love affair gadget freaks have with tunes players, phones, teevee devices, etc. ends just as suddenly when some other cheaper and better toy tops the current ones.

    The future for Apple is the Macintosh. Anyone who loses site of this reality, including the infajmous Mr. Jobs, will live to regret it.

  4. Always Right,

    Rename yourself to Always Left because you’re definitely not right. ” width=”19″ height=”19″ alt=”wink” style=”border:0;” />

    Paul 08!
    Maybe Huckabee (still sorting this out)

  5. TT-
    Yup. It is pathetic. A read a blog where a caucus-goer was asked who she was going to support- Clinton, Obama, or Edwards.
    She replied “Joe Biden”.
    Pollster repeated question.
    She reiterated “Joe Biden”.
    Pollster said “OK, that’s another ‘undecided’, and hung up.

    Then there’s the media.
    They suck.
    We’re getting dumber, people.

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