AAPL down sharply after two ratings cuts

Bad day for Big Rainbow: RBC Capital's Mike Abramsky and Morgan Stanley's Kathryn Huberty cut their ratings and price targets on Apple stock, both citing weakness in consumer spending on PCs. AAPL was down 17.38 at 110.86 (-13.58%) as of this writing: a 20-minute-delayed chart is above. Abramsky's price target on AAPL shares is now $140 (down from $200), while Huberty's is lower at $115 (down from $178). Huberty also notes Apple will struggle because the company "does not play" in the sub-$1,000 laptop market. In a slim bit of good news, Abramsky raised his estimate of the number of iPhone units sold during the fourth quarter to six million, up from five. AAPL's price during the trading day has been its lowest in over a year.Read | Permalink | Email this | Comments

Citigroup, Goldman Sachs conflict on Apple stock

New analysis of Apple's difficult financial situation has yielded two significantly different views. Richard Gardner of Citigroup has cut his price target for Apple stock by more than $100, down to $170 from $287. Blame is laid on a 3 percent decline in industry computer sales, and a 12 percent drop in music revenue throughout 2008. Apple's guidance, normally thought by analysts to be too conse...

Piper: Investor panic over Apple stock is unfounded

Today's sudden drop in Apple stock value is largely unwarranted, argue analysts from Piper Jaffray. The firm blames "market fears," which it says are distracting from "light at the end of the tunnel" as suggested by its own examinations. The company notes, for instance, that Street models are already accounting for wider economic problems, and may in fact be pessimistic. Piper puts FY08 Mac gro...

ValuEngine upgrades Apple stock

Analysis and forecasting company ValuEngine has upgraded its status on Apple stock from Hold to Buy, according to its weekly bulletin. Company size, risk, and five-year annualized returns were cited as primary reasons for the change. Apple has been riding well on the success of its iPod and iPhone product lines, along with Macs, ValuEngine comments. The firm's models show a current fair market val...

Steve Jobs on iPods, Macs, new Microsoft ads, and Apple stock (video)

When asked in a television interview what he thought of Microsoft's new television ad featuring Bill Gates and Jerry Seinfeld, Steve Jobs could only muster an "uhhhm." He had a bit more to say on the state of the iPod, Mac, and Apple's stock performa...

Pacific Crest ups AAPL targets

Section: Apple, Apple News, iPhone + Communications, iPhone Andy Hargreaves, an Analyst from Pacific Crest, has high hopes for AAPL. This morning, he raised his estimate for AAPL $10, from $225 to $235. Also of note was his AAPL EPS estimate for Fiscal September ‘09, which he brought up to $6.55 from $6.20.  With many analysts and firms upping the estimates and predictions, Apple has some big expectations to fulfill. Most of these recent increases have been attributed the the iPhone 3G. Many groups (including Pac Crest) predict iPhone sales in huge excess of Apple’s goals, reaching as high as 500,000 units sold by the end of the week. Though AAPL has been hurting in the last few days (down more than a dollar in the last day alone), you can expect very sizable jumps come July 11th.  iPhones will be flying off the shelves, so now the question is whether Apple can keep up with demand. Hargreaves himself says he does not wish to increase his units sold prediction and stands firmly by his original prediction of 15.5 million by the end of 2008 (despite many predictions being significantly higher). Via [Barron’s] Full Story » | Written by Mark Rowland for Appletell. | Comment on this Article »