“Shares of Apple (AAPL) are up $8.17, or almost 2%, at $462.62, following a favorable ruling on Friday for the company against Samsung Electronics Friday from the U.S. International Trade Commission in the titans’ ongoing patent battle, and also speculation from AllThingsD late Friday that Apple will unveil new models of the iPhone on September 10th,” Tiernan Ray reports for Barron’s.
MacDailyNews Take: It’s not speculation. The Bearded One hath spoken.
“But in the meantime, Needham & Co.‘s Charlie Wolf today reiterates a Buy rating on the shares but cuts his price target to $595 from $710 after performing one of his periodic assessments of the overall value of Apple’s businesses and finding they have all declined in value in recent months amidst rising competition,” Ray reports. “Writes Wolf, the biggest decline in his valuation for Apple is the Macintosh computer business, as the longtime boost from people switching from Microsoft‘s Windows to the Mac, but that effect has now been replaced by the adverse consequences of the rise of the tablet computer.”
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