“UBS hardware analyst Steve Milunovich today reiterates a Buy rating on Apple (AAPL) and a $500 price target, observing that even thought the shares have lately become a ‘trading stock,’ and even though Apple’s challenges of late ‘are summarized by the view that most of Apple’s success can be attributed to the unique capabilities of Steve Jobs,’ nevertheless he is ‘more optimistic’ that CEO Tim Cook ‘is the right guy,'” Tiernan Ray reports for Barron’s.
“Milunovich cites the negative view of Apple, and Cook, in the form of commentary from ‘industry observer’ Mark Anderson, offered via a recent UBS conference call for investors,” Ray reports.
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Ray reports, “Anderson’s contention is Cook is ‘a nice guy,’ but things such as making the largest bond offering in history suggest he is merely “an operations guy” like other leaders in time at great companies, such as former Intel CEO Craig Barrett.”
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