Needham & Company Maintains a 'Buy' on Apple (AAPL); Yet Another Blowout!
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Price: $442.93 +2.23%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade AAPL Now!
Needham & Company maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $450.
Needham analyst says, "With earnings of $6.40, Apple easily beat the second quarter consensus estimate of $5.47 solely on the strength of iPhone
sales. We continue with a buy and a price target of $450. We’re raising our fiscal 2011 estimate from $23.25 to $23.90 and our 2012 estimate from $27.35 to $28.05...While Apple does not talk about new products, it appears increasingly likely that the iPhone 5 will not launch until September. The launch delayed from June could dampen revenues in June and September. But it’s likely to translate into a blowout December quarter...By far, the major risk in the Apple story continues to be Steve Job’s health."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $342.41 yesterday, with a 52 week range of $199.25-$364.90.
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Needham analyst says, "With earnings of $6.40, Apple easily beat the second quarter consensus estimate of $5.47 solely on the strength of iPhone
sales. We continue with a buy and a price target of $450. We’re raising our fiscal 2011 estimate from $23.25 to $23.90 and our 2012 estimate from $27.35 to $28.05...While Apple does not talk about new products, it appears increasingly likely that the iPhone 5 will not launch until September. The launch delayed from June could dampen revenues in June and September. But it’s likely to translate into a blowout December quarter...By far, the major risk in the Apple story continues to be Steve Job’s health."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $342.41 yesterday, with a 52 week range of $199.25-$364.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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