Apple shares climb after analyst raises rating, price target

“Apple Inc. shares climbed to their highest point in almost three months on Monday after an analyst raised his rating on the stock due to several factors that should lead to long-term growth at the company,” Rex Crum reports for MarketWatch.

“Analyst Doug Reid of Thomas Weisel Partners raised his rating on Apple’s stock to overweight from market weight, and lifted his price target to $195 from $188, saying that the stock’s current valuation “excessively discounts” the company’s long-term growth prospects,” Crum reports.

“Among the reasons Reid gave for raising his rating and price target were the likelihood of the Macintosh PC line and the iPhone driving Apple’s revenue growth over at least the next two fiscal years,” Crum reports.

“In a research note, Reid said he expects Mac sales to reach $14.2 billion in Apple’s 2008 fiscal year, which ends in September. Such sales would be a 38% increase over the prior fiscal year, and well above Reid’s estimate for 3% growth for the entire PC industr,” Crum reports.

“Reid said one of the factors benefiting Apple remains its ‘superior design and performance,’ and that despite recent efforts by Dell Inc. and Hewlett-Packard Co. to improve their product designs, “our confidence in Apple’s ability to maintain leadership of the aesthetic is undiminished,'” Crum reports.

Morein the full article here.


  1. These guys are all full of sh*t. They do it all the time… surely everyone can see that. They do their best to drive the stock down through negative commentary, then make their large (often institutional) purchases, then start issuing the positive comments about how the stock is undervalued to drive it back up. This is a crime, but goes on all the time now. Don’t believe anything financial analysts say, it’s completely manipulative.

  2. PC design is shameful and embarrassing… dont matter what dress…?
    To a country bumpkin… you dont look at what you are putting your hands on lately eh?

    My new statement instead of: It’s so yesterday…”
    “It’s so…VISTA”

  3. Wow, interesting thought, boycotting Apple. I was in China in 89 during the Tiananmen Square tragedy. And, I hosted a couple Tibetan monks at my school afterward that talked about the opportunity for independence after Deng Xaioping died, which did not happen. I am sitting in Shanghai right now, but for the life of me, I could NOT imagine boycotting Apple products. I don’t know how that would help in any way. I’m sitting here typing on my 12″ AluPB. It’s a little marvel.

  4. Don’t you yanks boycott the world already? Heck because of what China is doing inside Tibet? Atrocious…but nothing compared to the world’s AENUS, so you might as well boycott products of that terrorist yank nation.

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