“JP Morgan Securities upgraded Apple Inc (AAPL)… to ‘overweight’ from ‘neutral,’ but downgraded…Dell Inc (DELL)… to ‘neutral’ from “overweight,'” Shrutika Verma reports for Reuters.
“Analyst Mark Moskowitz said he favours stocks that could offer relative downside protection to increasingly tenuous IT spending conditions over the next six to nine months,” Verma reports.
“‘We recommend stocks possessing diversified models, a high level of recurring revenues, market share grab potential, and margin protection,’ Moskowitz added,” Verma reports.
Full article here.
The Associated Press reports, “‘We think that Apple’s brand and market share momentum offer meaningful buffers’ to a slowdown in consumer spending, Mark Moskowitz wrote in a note to clients. ‘We expect numbers to come down across the sector, but Apple likely has a backstop beyond the first round.'”
“He believes the iPhone will bolster Apple’s results, eventually comprising 10 percent of sales,” AP reports.
“Due to the weak economy, he cut his estimate for fiscal 2009 earnings to $5.27 per share from $5.35, but raised his estimate for the just-ended fourth quarter of fiscal 2008 from $1.04 per share to $1.06 per share,” AP reports.
“Late Tuesday, research firm Gartner Inc. said Apple kept gaining share in the U.S. PC market, going from a 7.7 percent unit share a year ago to 9.5 percent in the latest period,” AP reports. “Those figures reflect the entire market, not just retail sales.”
Full article here.
Hey, Mikey: SIDAGTMBTTS!