Apple Inc. Not Falling Far – Analyst Blog
Source: http://www.zacks.com/stock/news/18101/Apple+Inc.+Not+Falling+Far+-+Analyst+BlogPosted on Wednesday, March 11th, 2009 | In Stocks to Watch
Apple Inc.’s (AAPL) CEO Steve Jobs had taken a temporary leave to focus on health issues. We believe the company’s day-to-day operations will not be affected as its fundamentals remain intact.
Apple reported strong Q109 results beating its own expectations, but the company provided a cautious outlook for 2Q09. Apple is benefiting from the industry’s trend towards laptops away from desktops, increased iPod sales and sale of its lower price point on the 3G iPhone. The company continued to take market share with its Macintosh and smartphones.
However, we don’t believe recent launches will be enough to drive a meaningful upgrade cycle. Moreover, fears of a sluggish economy and slow consumer spending remain. We maintain a Hold rating on AAPL shares with a 6-month price target of $87.00.
Priyanka Poddar contributed to this report.
Read the full analyst report on “AAPL”
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