“Standard & Poor’s analyst Tom Smith today raised his rating on Apple (AAPL) to Strong Buy from Buy on a valuation basis, but cut his price target to $127, from $137 and trimmed estimates,” Eric Savitz reports for Barron’s.
“Smith cut his estimates today to reflect weaker technology spending trends: for the September 2009 fiscal year, he goes to $5.50, from $5.70, and for FY 2010 he goes to $6.75, from $7.30,” Savitz reports.
“But he asserts that ‘while most peers also face weak demand, we believe AAPL has better potential for market-share gains in PCs and smart phones.’ He also notes that the company has over $24 billion in cash and investments and zero debt,” Savitz reports.
Full article here.
[Thanks to MacDailyNews Reader “JES42” for the heads up.]
Maybe all these analysts should get together and come to a consistent opinion? Yeah right.
Same day, three different views of where Apple is going. All of them likely wrong.
AAPL gets a strong buy rating, then goes down $3.52 today.
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Of course it’s all about the long term, but sometimes the market makes no sense.
The real Apple news MDN doesn’t have the balls to report:
http://online.wsj.com/article/SB122938758242108907.html
@Suck it, Fanboys
and even as they will obviously get a hit from the market… they are STILL doing better than the other PC manufacturers out there.
Just a thought.
Things are going to get worse. Its just fact. The holidays are artificial highs that are followed by the “broke” blues in Jan. Add that to the fact that in Feb we will see reports of bad news on the homes front as current “holds” on foreclosures will fade.
Now, note that Apple tends to follow the market as far as stock price cause….. well people are stupid (especially anal-ists) and they just do not know how to think about Apple as a company.
But….. as we get over the hump of Blue Feb of 09, Apple will be shining as a strong company with growing sales of computers, iPhones, etc.
So, my take is that starting in March or so, expect to see Apple shares lead the pack in a recovery as people suddenly wake up to an Apple world.
Just a thought. Happy Holidays.
en