Citi Reiterates 'Buy' Rating on Apple (AAPL)
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Citi reiterates a Buy rating on Apple (Nasdaq: AAPL). Price target $287.
Citi analyst says, "Following field checks in Asia, we remain comfortable with our above consensus revenue and EPS estimates for 3CQ08. New products, iPhone geographic expansion and sharp declines in key component prices also bode well for upside in 4CQ08. Finally, valuation is attractive at 13X forward free cash flow...Field checks confirm that shipments of new MacBooks have begun, with a sharp production ramp planned for Sept and an introduction planned for early October. The most distinctive features of the new MacBook appear to be a very thin aluminum casing, an LED-backlit display and an aggressive entry-level price point."
Apple Inc. designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions.
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Comments
Price target $287
I'm an optimistic long-time cheerleader for Apple and stock holder but I think there is a reason there is no name attached to the analyst that is waving this $287 price around. That's just pie in the sky right now and basically irresponsible. I've noticed these insane predictions in the past coming out right before the stock tanks. Someone's wet dream and I doubt it came from Citi.
The Early Bird
RE: "I say don't buy anything until we get into a bull market." ===================== A bull market begins unexpectedly, and starts as with a rapid increase in prices. Quality companies, with positive expectations, tend to run up first and fast. The highest return is usually the FIRST BIG MOVE UP. At some point one has to own Apple stock in order to reap the returns.
good Stock Pick
Apple has not recovered since January...any stock is probably a buy right now! the problem is that since the money supply is gone and we are all heading into a recession is it really safe to risk cash ? I say don't buy anything until we get into a bull market.
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Subject
Name on Sep 16, 2008 12:18 AMThe analyst is Richard Gardner. http://network.nationalpost.com/np/blogs/tradingdesk/archive/2008/09/15/apple-on-track-to-trump-consensus.aspx