Analyst disregards concerns of probe
updated 02:15 pm EDT, Fri August 4, 2006
Analyst on probe concerns
Analyst firm Merrill Lynch today said Apple's future would not be affected by the company's ongoing stock irregularities investigation. Although Apple yesterday said such issues could lead to a restatement of its earnings, the analyst firm maintains its "buy" rating with a price target of $72 for Apple shares, reinforcing another report from American Technology Research analyst Shaw Wu who said Apple will remain largely unaffected by the possible changes. "Clearly this is a negative development that reflects poorly on the integrity of the managers involved," wrote Merrill Lynch analyst Richard Farmer. "Despite this negative development in the options investigation, our forward looking view of fundamentals is not affected, so long as disruptive management changes are not required."
Fresh-Faced Recruit
Joined: Apr 2005
WOW!
For once analysts make sense! Impressive! I guess with the internet, these guys/companies are under a lot more pressure to put away all the usual bullshit they spew out. Word travels faster than the plague online!