All Aboard Apple (AAPL) on Facebook Flop, Positive Commentary on Carrier Subsidy and Upgrade Policies
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Get Alerts AAPL Hot Sheet
Price: $445.07 +1.23%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Trade AAPL Now!
After forgetting about Apple (NASDAQ: AAPL) for a few weeks ahead of the much-anticipated IPO of Facebook (NASDAQ: FB), investors have found it again in a big way Monday. As Facebook's IPO flounders, Apple is up an astonishing 5%, or $28.
Adding to the upside was a bullish report from Goldman Sachs on the stock, one of the biggest bulls on the Street.
New research from Goldman addressing subsidy issues bodes well for Apple. The report concludes that a decrease in smartphone subsidies by US carriers is unlikely. This is largely due to competitive nature of the market, as the four carriers in the market are all pushing for greater smartphone adoption.
While carries have policies in place that can elongate smartphone upgrade cycles by extending early upgrade windows and raising upgrade fees, Goldman does not expect substantial incremental improvements on upgrade windows after 2012. Also, new upgrade policies could actually shift share to higher-end smartphones like the iPhone, the firm said.
Goldman Sachs reiterated their Conviction Buy List rating and price target of $850.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $530.38 yesterday, with a 52 week range of $310.50-$644.00.
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Adding to the upside was a bullish report from Goldman Sachs on the stock, one of the biggest bulls on the Street.
New research from Goldman addressing subsidy issues bodes well for Apple. The report concludes that a decrease in smartphone subsidies by US carriers is unlikely. This is largely due to competitive nature of the market, as the four carriers in the market are all pushing for greater smartphone adoption.
While carries have policies in place that can elongate smartphone upgrade cycles by extending early upgrade windows and raising upgrade fees, Goldman does not expect substantial incremental improvements on upgrade windows after 2012. Also, new upgrade policies could actually shift share to higher-end smartphones like the iPhone, the firm said.
Goldman Sachs reiterated their Conviction Buy List rating and price target of $850.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $530.38 yesterday, with a 52 week range of $310.50-$644.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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