AAPL coverage initiated with "neutral" rating
updated 07:55 pm EST, Tue December 2, 2003
JP Morgan: AAPL \"neutral\"
Analysts at JP Morgan today initiate coverage of Apple with a "" rating. In research published this afternoon, the analysts mention that Apple is poised for "robust margin expansions" in the forthcoming quarters on account of its new digital music product offerings. JP Morgan expects Apple's new professional products and the improving tech spending scenario to further boost the company’s earnings growth in the forthcoming years. However, the current valuation of the company’s stock already reflects its near-term earnings growth potential, the analysts believe.
