“Apple (AAPL) shares are on the rise this morning, lifted by bullish comments from Bernstein Research analyst Toni Sacconaghi,” Eric Savitz reports for Barron’s.
MacDailyNews Take: Eric sure loves to report whatever nutball Toni babbles.
Savitz reports, “While Sacconaghi maintains a Market Perform rating on the stock, this morning he raised his price target on the shares to $175 from $165.”
“He also upped his EPS estimate for the September 2008 fiscal year to $5.27 from $5.17; for FY ‘09 he goes to $6.52 from $6.26,” Savitz reports. “(The Street consensus is $5.20 for this year and $6.36 for next year.) Sacconaghi now expects Apple to sell 8.5 million iPhones for the rest of the calendar year, bringing his forecasted total for all of 2008 to 11 million units; he expects 19.5 million units to be sold in calendar ‘09.”
Full article here.
Nice price target. For 2007. At least Toni’s finally figured out that Apple will easily meet and exceed its stated goal of 10 million iPhone units sold in 2008.
Up is not a verb! Arrrggghhh!!!
There! I’ve had my first curmudgeonly hissy fit for the day. Feels very satisfying, too.
Up:
verb ( upped |əpt|, upping |əpɪŋ|)
1 [ intrans. ] ( up and do something) informal do something abruptly or boldly : she upped and left him.
2 [ trans. ] cause (a level or amount) to be increased : capacity will be upped by 70 percent next year.
3 [ trans. ] lift (something) up : everybody was cheering and upping their glasses.
• [ intrans. ] ( up with) informal raise or pick up (something) : this woman ups with a stone.
this anal-ist is the most celebrated aapl asshat on our planet. A complete and utter fsckup.
tony is the best apple analyst out there. the shares reached his old target of $165 today and then he “ups” his target to $175. tomorrow, he”ll move it up another $10 to $185, and the stock will follow…
if you read his report, you would see that of the 700 million iphone carrier end users, about 210 mln are post paid (read eligible for subsidized handset pricing) while the rest are pre-paid. those numbers will limit apple to only selling 25 mln next year or another $5 billion in cash pre-tax earnings! this stock is undervalued.
I’m with you Beryllium. Just because some spotty faced upstart says it is a word, it doesn’t make it one!
Harrumph!!
Both the reporter and the analyst are pure anti-Mac and have always been so. So for one of them to up the price target to something equal to the present market and the other to think they’ve done a big thing by reporting it is far reaching and a milestone in ‘halo’ effect. Its just a short matter of time for them to be asking: “What’s a RIMM, is that something like a bicycle tire or something?”