“Thomas Weisel Partners upgraded Apple Inc. Monday, saying the company’s current share price severely discounts long-term growth potential,” The Associated Press reports.
“The firm also said the risk that 2008 results will disappoint has faded,” AP reports. “Analyst Doug Reid moved his rating to ‘Overweight’ from ‘Market Perform’ and raised his price target to $195 from $188.”
“‘Over the next few years, we expect Apple to maintain above-peer operating margins, preserve its fierce brand loyalty and set a foundation for accelerating market share gains,’ Reid said in a note to clients,” AP reports.
“He raised his 2008 earnings forecast to $5.23 per share from $5.03 per share. Analysts polled by Thomson Financial expect, on average, earnings of $5.13 per share,” AP reports. “Shares of the Cupertino, Calif., company rose $2.42 to $155.50 in premarket trading Monday.”
Full article here.
[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]
Absolutely nothing – zero, zilch, nada – has changed since Apple smashed The Street with record quarterly earnings and provided their usual conservative guidance. Apple is exactly the same company and continues firing on all cylinders. Perhaps this most-recent season of irrational pessimism over AAPL is finally coming to a close. AAPL second fiscal quarter earnings are due to be reported on Wednesday, April 23, 2008 at 2pm PDT / 5pm EDT.