“Wells Fargo Securities announced on Wednesday that it will resume coverage of Apple as it expects the 2012 iPhone to drive the ‘largest product cycle in consumer electronics’ history’ when it arrives later this year,” Josh Ong reports for AppleInsider.
“Analyst Maynard Um reinitiated coverage in a note sent to AppleInsider, rating Apple as Outperform with a valuation range of $640-660,” Ong reports. “The investment bank believes shares of Apple are currently undervalued and will see growth after its expected ‘biggest product launch’ in both company and industry history with the next-generation iPhone, which is expected to arrive in October… He believes the handset’s launch will be boosted by an anticipated more-rapid carrier rollout than previous years and buzz from the device possibly being one of the last products that late CEO Steve Jobs had a hand in designing.”
Ong reports, “In addition to the iPhone, Um expects Apple’s other upcoming products to contribute to growth. He believes a so-called ‘iPad mini’ is on its way, as well as new iMac, Mac Pro and iPod models. A much-rumored ‘iTV’ Apple television set is not expected by the firm until calendar 2013 at the earliest.”
Read more in the full article here.
MacDailyNews Take: iPhone, bitch!
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]
Wat a stupid video
Couldnt agree more.
OMG! Noogies! I haven’t seen anyone do those in a million years.
All this good stuff to note, and a target of only $650. So he’s predicting an even lower p/e ratio going forward. Crazy.
Eventually someone will buy Apple just to raid the bank account. We’re now essentially at a zero valuation on Apple’s entire iPad business. In other words Wall Street has voted with their dollars and said that dispute bringing in more revenue and profit than most fortune 500 companies, the iPad business isn’t worth reflecting in the share price.
Wells Fargo Securities announced on Wednesday that it will resume coverage of Apple
They HAVEN’T been covering AAPL? What rock have they been hiding under?
Apple shares are currently undervalued and will likely stay this way forever. Another down day for Apple and I called it because I know that the whole market is crapped out and Apple can’t do a damn thing about it. At least Apple isn’t taking a bad a beating today as Google, Intuitive Surgical or Priceline which I’m thankful for.
The damn market is just rollercoastering with very little direction and Apple is being dragged along with it. Its constantly shrinking P/E stays in effect while Apple is piling up on cash and the share price drops with no breakout in sight. Pathetic. The iPad is worth nothing to Wall Street which I find quite odd, being that its such a disruptive device to the rest of the PC industry.
Although the Apple sales outlook is quite good, please remember that we are in a global recession headed towards depression. It has nothing to do with Apple or the tech sector. There is just no capital flowing into markets. as a stockholder, I am surprised that Apple has weathered this storm as well as it has. Good management is key here.
A wise observation!
The iPad mini is currently located next to the iPhone nano in Apple’s retail stores.