toggle

AAPL Stock: 95.22 ( + 0.19 )

Printed from http://www.macnn.com

Bank of America upgrades AAPL

updated 08:15 am EDT, Mon July 31, 2006

AAPL upgrade by BofA

Bank of America equity research upgraded Apple to 'buy' from 'neutral." In addition, the frim raised its price target to $79 from $68, citing strong demand for MacBooks and iPod digital music players. MarketWatch reports that Bank of America's research arm told clients that Apple generate enough additional unit sales in the second half of the year, it believes that iPod earnings could increase profits by 8 cents to 12 cents per share. Bank of America, however, noted that it is not taking into account the impact of an Apple-based mobile phone, which it expects to be introduced in 2007. Earlier in July Merrill Lynch upgraded Apple, following Apple's tacit acknowledgement that it was working on solution to counter the recent success of Sony's walkman phone. Well-known colunits Walter Mossberg has publicly said that Apple has been working on an Apple-branded iPhone, while reports have surfaced indicating that the company has been searching for mobile phone parts suppliers.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Comments are closed.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Samsung SmartCam HD Pro

Keeping an eye on the home while out and about these days is common practice, assisted by modern technology. Internet cameras became p ...

Fugoo Bluetooth speaker

It's rare to find a Bluetooth speaker that can cover a large array of needs. Generally, speakers are wrapped in a desktop-convenient ...

Epson LW-600P

Label makers are traditionally simple machines that perform a single task which people feel they can either live with or without. In m ...

toggle

Most Commented