“Citigroup’s Richard Gardner this morning reiterates a Buy rating on shares of Apple and a $600 price target after hosting a meeting on Thursday with chief executive Tim Cook and CFO Peter Oppenheimer on Apple’s campus,” Tiernan Ray reports for Barron’s.
“Among the ‘key points’ Gardner gleaned was that Cook reiterated a view that expansion in the iOS operating system platform will lead to tablet sales eventually surpassing the volume of sales of traditional PCs,” Ray reports. “‘We have wondered whether Apple might offer an ARM Holdings-based version of the MacBook Air at some point; we walked away from this meeting with the impression that Apple feels iPad satisfies — or will soon satisfy — the needs of those who might have been interested in such a product,’ writes Gardner.”
Ray reports, “Gardner also sees an agreement with China Mobile coming this year for the iPhone, given Gardner’s own ‘checks’ suggest the device will support both Western-style ‘LTE’ cellular networking but also the home-grown Chinese ‘TD-SCDMA’ cellular standard.”
Read more in the full article here.
“‘We have wondered whether Apple might offer an ARM Holdings-based version of the MacBook Air at some point; we walked away from this meeting with the impression that Apple feels iPad satisfies — or will soon satisfy — the needs of those who might have been interested in such a product,’ writes Gardner.”
Interesting to me is “or will soon satisfy”. I’m looking forward to seeing what’s ahead with iOS 6 and beyond.
I wondered why Apple shares got a little boost today and maybe this report is the reason why. Little by little, Apple shares are creeping up and for that I’m thankful.
…or it could be the multi-billion dollar revenue stream, the low p/e ratio, the future earnings outlook, etc.
Just so you know, the Dow, S&P, and the NASDAQ all posted larger gains today than AAPL. I can’t for the life of me figure out what is holding this stock back from double-digit percentage gains in the last few days!!!
Nothing to do with it. The jobs report gave the whole market a boost, and Apple got a smaller boost than most. Also, it looked like weekly options expiration were pointing towards $460 today. Without that, I think Apple would likely have closed above $460.
I wonder why such meetings are held. There is absolutely no way Apple folks would tell these analysts even single word more information that was already announced during recent quarterly report conference.
The meetings are intended to provide assurances to investors, to counteract unwise street sentiment, dogbait rumors, and red herrings. Apple doesn’t provide new information, which is why Citigroup walked away with “impressions”, “feelings”, and “surmises”.
I mean that all parties of such meetings know that there will be nothing new and they only meet to “reiterate” old information and see if “CEO’s eyes expressed confidence”. ;))))
I once was blind but now I see
Nothing like a walk on the campus to put the glitter/stars back in investors eyes.
Did they get t shirts at the Company Store?
Was this before or after Citigroup was charged with grand larceny and fraud?
Screw Citigroup and the horse they rode in on!
This is really nice of SHitigroup. But I wouldn’t trust them to pee in a straight line. They are one of the prime companies who tanked the US/World economy for the sake of their own short term profit. Frack SHitigroup, dumbasses.