Needham & Company Comments on Apple's (AAPL) New iPad Unveiling...It's The Software, Stupid
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Price: $423.00 --0%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 10 | New: 19
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 10 | New: 19
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Needham & Company maintains a 'Buy' on Apple (NASDAQ: AAPL) price target of $620.00.
Analyst, Charlie Wolf, said, "Apple unveiled the third-generation iPad. While there were no surprises, the new iPad is likely to trigger a major upgrade cycle because it is so superior, in our view, to the second-generation model...However, the most notable improvements are revealed in the software applications that exploit the retina display. The most significant addition
is a completely reinvented version of Apple’s iPhoto application, which heretofore was not available on the iPad. iPhoto features impressive new photo enhancement and photo management capabilities, which by itself could generate an upgrade cycle among photo enthusiasts, in our opinion."
Needham maintains FY12 EPS estimate at $41.25 and FY13 at $53.
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 $530.69 yesterday, with a 52 week range of $310.50-$548.21.
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Analyst, Charlie Wolf, said, "Apple unveiled the third-generation iPad. While there were no surprises, the new iPad is likely to trigger a major upgrade cycle because it is so superior, in our view, to the second-generation model...However, the most notable improvements are revealed in the software applications that exploit the retina display. The most significant addition
is a completely reinvented version of Apple’s iPhoto application, which heretofore was not available on the iPad. iPhoto features impressive new photo enhancement and photo management capabilities, which by itself could generate an upgrade cycle among photo enthusiasts, in our opinion."
Needham maintains FY12 EPS estimate at $41.25 and FY13 at $53.
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 $530.69 yesterday, with a 52 week range of $310.50-$548.21.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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