Ticonderoga Maintains a 'Buy' on Apple (AAPL); Brings Subscription Billing Service to the App Store
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Price: $433.26 -0.3%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Ticonderoga maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $550.
Ticonderoga analyst says, "Earlier today, Apple announced a new subscription-based billing service that extends the digital billing service that the company recently launched for The Daily app to all publishers of "content-based" apps (i.e., magazines, newspapers, video, music, etc.) in the App Store. Recall, The Daily is an exclusive digital newspaper from News Corp. (Nasdaq: NWSA)(NotRated) that debuted in early February. In our view, it was only a matter of time before Apple offered a broad subscription-based billing service, and we view this as an incremental positive for the Apple ecosystem that continues to strengthen."
"With Apple's growing ecosystem of iOS devices and iTune users, the company offers content providers a deep customer base and a more innovative way to transact business. Describing the subscription billing service, Steve Jobs highlighted that it will "provide publishers with a brand new opportunity to expand digital access to their content onto the iPad, iPod touch and iPhone..." We believe that Apple's integrated digital ecosystem remains a competitive advantage that no company in the world has been able to emulate. As such, with over 350,000 Apps (including 60,000 apps for the iPad) and over 10 billion downloaded by this January, we believe that Apple is well positioned to benefit from the ecosystem, while providing an immersive experience for the consumer, thereby benefiting digital content publishers through the access to 160 million iOS devices (as of 1QFY11)."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $359.18 yesterday, with a 52 week range of $195.71-$360.00.
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Ticonderoga analyst says, "Earlier today, Apple announced a new subscription-based billing service that extends the digital billing service that the company recently launched for The Daily app to all publishers of "content-based" apps (i.e., magazines, newspapers, video, music, etc.) in the App Store. Recall, The Daily is an exclusive digital newspaper from News Corp. (Nasdaq: NWSA)(NotRated) that debuted in early February. In our view, it was only a matter of time before Apple offered a broad subscription-based billing service, and we view this as an incremental positive for the Apple ecosystem that continues to strengthen."
"With Apple's growing ecosystem of iOS devices and iTune users, the company offers content providers a deep customer base and a more innovative way to transact business. Describing the subscription billing service, Steve Jobs highlighted that it will "provide publishers with a brand new opportunity to expand digital access to their content onto the iPad, iPod touch and iPhone..." We believe that Apple's integrated digital ecosystem remains a competitive advantage that no company in the world has been able to emulate. As such, with over 350,000 Apps (including 60,000 apps for the iPad) and over 10 billion downloaded by this January, we believe that Apple is well positioned to benefit from the ecosystem, while providing an immersive experience for the consumer, thereby benefiting digital content publishers through the access to 160 million iOS devices (as of 1QFY11)."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $359.18 yesterday, with a 52 week range of $195.71-$360.00.
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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