updated 04:50 pm EST, Thu February 8, 2007
Goldman Sachs on Apple
Goldman Sachs today removed Apple from its conviction buy list based on fears of "negative speculation" leading up to the company's iPhone launch in June. Analyst David Bailey did, however, reiterate a buy rating and a 12-month price target of $110 on Apple shares, saying the stock should be bought "on dips" during the anticipation period leading up to iPhone's launch, according to MarketWatch. Many questions surround Apple's entry into the cellular handset market, but the introduction of the iPhone has already spurred at least one look-alike competitor from Samsung, signaling that Apple's pending launch has caught the attention of major mobile manufacturers.