Needham & Company Maintains a 'Buy' on Apple (AAPL); You’ve Got To Hear It To Believe it

October 5, 2011 9:09 AM EDT
Get Alerts AAPL Hot Sheet
Price: $120.00 +0.18%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade AAPL Now!
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on Apple (NASDAQ: AAPL) price target of $540.00.

Needham analyst says, "Apple introduced the iPhone 4S at an event on the Apple campus. While the 4S is a worthy successor to iPhone 4, it adds a break-through feature called Siri. Siri not only understands conversational English, but can also understand the context of any command or question. We continue with a buy rating, a $540 price target and our fiscal 2011 and 2012 estimates of $28 and $33 respectively...With the addition of Sprint (NYSE: S) in the U.S., possibly new international carriers and Verizon subscribers who postponed purchases of the iPhone until this launch, iPhone 4S should easily match our estimate of 27.5 million shipments in the December quarter."

For more ratings news on Apple click here and for the rating history of Apple click here.

Shares of Apple closed at $372.50 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

Needham & Company, iPhone 4

Add Your Comment