UPDATE: UBS Starts Apple (AAPL) at Buy; Not Finished Building The Empire
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Price: $431.77 --0%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Trade AAPL Now!
(Updated - July 11, 2012 11:01 AM EDT)
UBS initiates coverage on Apple (NASDAQ: AAPL) with a Buy. PT $740.00.
Analyst, Steven Milunovich, said, "AAPL is creating a tech empire that likely has not reached its zenith. Our Wave Principle teaches that empires don’t last. We recommend the stock, however, because the relatively low valuation seems to discount a too-pessimistic future given moderate smartphone and tablet penetration as well as potential new products."
The pattern in four of the last five iPhone introductions is for the stock to consolidate before and after the intro then take off. Although earnings growth should slow, the low valuation suggests more price upside if Apple beats estimates.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $608.21 yesterday, with a 52 week range of $348.62-$644.00.
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UBS initiates coverage on Apple (NASDAQ: AAPL) with a Buy. PT $740.00.
Analyst, Steven Milunovich, said, "AAPL is creating a tech empire that likely has not reached its zenith. Our Wave Principle teaches that empires don’t last. We recommend the stock, however, because the relatively low valuation seems to discount a too-pessimistic future given moderate smartphone and tablet penetration as well as potential new products."
The pattern in four of the last five iPhone introductions is for the stock to consolidate before and after the intro then take off. Although earnings growth should slow, the low valuation suggests more price upside if Apple beats estimates.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $608.21 yesterday, with a 52 week range of $348.62-$644.00.
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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