Lehman Brothers has initiated coverage of Apple with an overweight rating and a $195 price target citing sales momentum and Macintosh share gains in Macs along with potential for open-ended growth with new iPhones and more new products.
“‘Despite the economic environment, we do not believe that Apple’s momentum has waned in Macs; in fact, Macs may have reached a tipping point with share on its way toward doubling over the next three to five years,’ the broker said,” Steve Goldstein reports for MarketWatch.
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