Ticonderoga Maintains a 'Buy' on Apple (AAPL); March 2 Is Important to Apple in More Ways Than One

March 1, 2011 8:45 AM EST
Get Alerts AAPL Hot Sheet
Price: $119.97 -0.09%

Rating Summary:
    59 Buy, 11 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
Trade AAPL Now!
Join SI Premium – FREE
Ticonderoga maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $550.

Ticonderoga analyst says, "This Wednesday (3/2), Apple is scheduled to host a product launch event in San Francisco to discuss new developments, including market expectations for the unveiling of the widely anticipated iPad 2. This event is not to be taken lightly, as the iPad is an important growth driver for Apple, and the company enjoys a first mover advantage. However, we estimate there are well over one hundred tablets coming to market around the world this year. Assuming a new iPad is unveiled at this event, we believe Apple must make a convincing case for why the iPad 2 is better than the plethora of competitors coming to market, while at the same time persuading iPad 1 buyers to upgrade to iPad 2. Finally, this gathering will allow investors to evaluate how the Apple team executes during a crucial new product launch in light of Steve Jobs's medical leave of absence. With the stock trading at just 11.8x (ex-cash) our CY11 EPS estimate, we believe the combination of a smooth presentation and a compelling iPad 2 offering can keep the stock moving in an upward trajectory."

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

Shares of Apple closed at $353.21 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

Steve Jobs

Add Your Comment