Goldman Sachs Rates Apple (AAPL) at Conviction Buy, Sees 34% Upside

December 13, 2010 7:15 AM EST
Get Alerts AAPL Hot Sheet
Price: $119.04 -0.18%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs resumes coverage on Apple (NASDAQ: AAPL) with a Conviction Buy list rating and $430 price target, representing 34% upside.

The firm called Apple's platform-centric business model it's "secret sauce" that has
enabled it to quickly capture market share in new computing segments while simultaneously enjoying considerable margin leverage.

Significant growth and profit opportunities for this platform still lie ahead, according to the firm.

Goldman Sachs expect Apple to ship 37.2 million iPad units in CY11.

Their $430 price target is based on 20x 2011 EPS of $21.46.

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

Shares of Apple closed at $320.56 yesterday.

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