Credit Suisse Starts Apple (AAPL) at Outperform, Sees 50% Upside
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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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Credit Suisse initiates coverage on Apple (NASDAQ: AAPL) with a Outperform rating and $500 price target, suggesting upside of nearly 52 percent to yesterday's close.
The firm said the company can deliver revenue and earnings growth of 50% and 46%, respectively, over the next two years, which is well ahead of consensus of 24% growth in 2012.
The firm sees the company's smartphone share rising to 20% in 2012, with units of 72 million in 2011 and 112 million in 2012. iPad should become a $34 billion business by 2012 they said.
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $330.01 yesterday, with a 52 week range of $199.25-$364.90.
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The firm said the company can deliver revenue and earnings growth of 50% and 46%, respectively, over the next two years, which is well ahead of consensus of 24% growth in 2012.
The firm sees the company's smartphone share rising to 20% in 2012, with units of 72 million in 2011 and 112 million in 2012. iPad should become a $34 billion business by 2012 they said.
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $330.01 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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