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. The 7.3% share number comes from browser use in a given quarter. It is a gauge of market share, but it is not the same as OVERALL market share.

    That’s why Mac may not yet have true overall (non-quarterly) market share over 7%. The best is yet to come: DOUBLE DIGITS!

  2. huckabee?

    a scammer, an embezzler, a big time Prohibitionist.

    politics as usual. i am VERY disappointed in someone here.

    mw: products, as in do as you always have done and you’ll get what you always have [been] got.

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