Apple stock jumps on bullish iPhone reports

“Apple Inc.’s shares rallied on Monday, reversing from a three-week downspin, as a handful of brokers reiterated their bullish views of the company’s flagship iPhone business,” Dan Gallagher reports for MarketWatch.

“By midday, Apple (AAPL) was trading up more than 4% to $553. The shares had previously shed as much as 12% from late-April to last Friday’s close,” Gallagher reports. “Goldman Sachs said it does not expect U.S. carriers ‘to make any material changes to retail prices for leading smartphones,’ since the market has four major carriers all pushing hard to grow their smartphone businesses. ‘From Apple’s perspective, we view the conclusions of the report as positive, and we continue to believe that reductions in smartphone subsidies are unlikely to significantly impact the Apple model or the longer-term value of the platform,’ wrote Goldman analyst Bill Shope, who covers Apple for the broker.”

Gallagher reports, “In another report, Piper Jaffray analyst Gene Munster maintained his iPhone shipment target, despite the risk of the 28nm chip shortage. He said there is an 80% chance the company can meet his target of shipping nearly 50 million iPhone units in the December quarter, when he expects the company to launch the iPhone 5. ‘We expect Apple is likely to get favorable treatment in terms of access to 28nm inventory,’ he wrote, adding that even if the launch was constrained by supply, he thinks consumers would simply wait for available units instead of opting to buy a rival product.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Carl H.” for the heads up.]


  1. Yeah, yeah, yeah . . . and last week the ANALysts were bemoaning the LACK of iPhone sales worldwide (in anticipation of iPhone5, I suppose). Any and all rumors are available whenever the hedge fund managers need to move AAPL share value up or down to suit their portfolio needs. Small investors today need balls of steel to weather these blatant manipulations.

    1. They are the same assholes who talked smack about Apple right after they shorted it. The buy signal triggered over the weekend, they’ve covered, gone long AAPL, and are now smoothly praising it. They do this all the time, there should be a law against it.

  2. Wall St pushed Apple as low as it could go, so now is the time to stock up. They’ll send it as high as they can in the next few weeks & sell, then we’ll go through it all again next month.

    1. Sounds like a great plan.
      So why are we not all investing in it, instead of dull buy and hold?

      Apple as a profit center knows one boring direction, up.

      As a roller-coaster, it lets you take each up-ramp two or three times. More fun, more profit. So why is everyone complaining?

  3. this is the least expensive AAPL you will ever get again because Apple is going to disrupt several markets (WWDC), again, and dividends are coming in July.

      1. The buybacks are relative peanuts. Jus enough to cover the stock created by employee grants. It will not reduce the supply, but only keep it from growing larger.

  4. Im glad I took Andy Zackey’s advice and bought more shares over the weekend. He was right as usual. Somebody has to give ’em a clue.

    We can bemoan the collective stupidity of Wall Street not understanding Apple and pricing the company at fair value or at its intrinsic value. Their stupidity does give the little guy a buying opportunity. Use it to your advantage.

  5. Yahoo. Glad I added shares at $538. Pretty near the bottom, better than most of my guesses. And why the constant knock on analysts here. Are you all such brilliant traders? I have done pretty well following a number of analysts. Where do you big brains get your wonderful insight? Just saying.

  6. I have balls of steel. These guys can play around all they like with AAPL… I care less.. But at some point someone should look into why contradict themselves week by week. I think they missed their calling.. it’s hedge funding they should be doing… it’s politics.

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