“Apple shares recovered 2% after closing at a five-month low on Thursday,” Sue Chang and Greg Morcroft report for MarketWatch.
“Analysts at UBS — Steven Milunovich, Peter Christiansen, and John Roy — published a relatively detailed note on Friday, stressing that this would be a good time for investors to add to Apple holdings,” Chang and Morcroft report. “‘With earnings momentum bottoming and near-term upside EPS surprises more likely, we continue to like the stock here,’ said the analysts in a report entitled ‘Insights from visit to Apple.'”
Chang and Morcroft report that the UBS analysts wrote, “‘Management was bullish regarding its growth opportunities and ability to differentiate. Despite the recent management changes, Apple remains product- rather than financial-focused, perhaps Steve Jobs’ most important legacy.'”
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MacDailyNews Note: Shares of Apple Inc. (AAPL) closed up $9.31, or 1.73%, at $547.06 on nearly double the average daily volume.