“In a note to clients issued early Friday, Oppenheimer’s Yair Reiner addresses the yawning disconnect between Apple’s (AAPL) fundamentals — the underlying strength of its business — and its share price,” Philip Elmer-DeWitt reports for Fortune. “‘Apple’s stock has performed admirably this year (up 37% YTD),’ he writes, ‘but it has significantly lagged the improvement in the company’s fundamentals, which have driven FY10 consensus EPS estimates up by 75% since January.'”
P.E.D. reports, “Reiner has raised his iPhone and iPad unit sales estimates (to 12 million and 4.5 million, respectively) as well as his Apple price target (to $345 from $330) and is advising clients to buy the stock in advance of the company’s Oct. 18 earnings report. Apple, he says, is ‘not too big to blow it out.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]