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 »

AAPL recovering after initial WWDC nosedive

In heavy trading volume today, Apple stock (AAPL) is down four percent after initially dropping to 176.23 halfway through the keynote at 1:55 p.m. Eastern time. At the time of posting, AAPL was trading near 177, which is a decline of over four percent since the closing bell yesterday. Apple stock has taken hits in the past on announcement days, usually due to traders looking to make a quick buck from the high interest surrounding coverage of the event. An update, after the jump.Continue reading AAPL recovering after initial WWDC nosediveRead | Permalink | Email this | Comments

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

Barron's: Apple stock slide linked to iPhone rumors

A recent slip in Apple's stock value over the course of a day -- to as low as $175.41 on Thursday -- was attributable to iPhone rumors, writes Barron's. The financial publication notes that even though Apple has not technically announced the 3G iPhone, "rumors of a rumor" began circulating on Thursday that the product would be delayed, causing mil...

Goldman Sachs puts AAPL on 'conviction buy' list

Financial firm Goldman Sachs has added Apple stock to its "conviction buy" list, Reuters writes. This is based largely on expectations for the 3G iPhone, which the firm agrees will launch next month, and contribute substantially to Apple's profits. Sachs analyst David Bailey has correspondingly raised the stock target for Apple from $185 to $220...

Oppenheimer: Apple stock rated at 'outperform'

Apple stock is projected to do extremely well, says Oppenheimer Funds' Yair Reiner. The analyst says he is giving the AAPL listing an "outperform" rating, and a target price of $235, higher than that of several other research firms. This is based largely on predicted sales of the iPhone, which Reiner anticipates will amount to 14 million in 2008,...