Analysts stand by Apple despite media feeding frenzy

Research Recap reports for Seeking Alpha, “Apple CEO Steve Jobs announced Friday that the firm would offer iPhone 4 users free bumpers or cases that would solve the signal loss problem. ‘This is life in the smartphone world,’ he said. ‘Phones aren’t perfect. It’s a challenge for the whole industry. Every phone has weak spots,'”

• “Piper Jaffray analyst Gene Munster said in a note to investors: ‘We believe the company adequately proved the antenna issue is an industrywide problem, and the case solution is of minimal cost to Apple.’

• Brian Marshall, an analyst at Gleacher & Co. said ”The stock is incredibly undervalued.”

• UBS analyst Maynard Um kept his “buy” rating and $320 price target on Apple’s stock.

• Kaufman Bros analyst Shaw Wu also maintains his ”buy” rating for Apple and 12 month price target of $349, calling the problem a mere ”minor blip”.

• Clyde Montevirgen at Standard & Poors reiterates a “buy” rating and a $325 price target for Apple.

“‘We believe Apple accomplished its objective of addressing the iPhone 4 antenna issues to its customers and, more importantly, relieving the excitement levels and tension with the press,’ BMO Capital Markets analyst Keith Bachman wrote in a research report,” Research Recap reports.

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