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AAPL Stock: 101.74 ( -0.05 )

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AAPL downgrade reversed, marketcap grows to 4x Dell's

updated 01:40 pm EDT, Mon May 5, 2008

AmTech

American Technology Research analyst Shaw Wu has reversed a prior downgrade on share's of Apple Inc, changing his rating on the stock to from Neutral to Buy. Wu's downgrade came right before Apple's blowout March quarter, in which the company announced record revenues on surging Mac sales. Barrons quotes Wu: "We overestimated the potential negative reaction on the quarter and in hindsight should have moderated our near-term posture rather than downgrading. While AAPL shares will likely remain volatile and may offer a better entry point, we need to align our rating with our longer term view on fundamentals." Wu has set a $210 price target on Apple's stock. Barrons also notes that RBC Capital's Mike Abramsky has raised his target price on Apple to $220 from $200, predicting that Apple will sell 14 million iPhones this year.

In related news, Apple's valuation is now more than quadruple Dell's. Apple's shares are currently trading up $3.35 or 1.85 percent to $184.29, yielding a market capitilization of $162.4 billion, while Dell howevers at abou $19 per share yielding a market capitilization of $39.13 billion.




by MacNN Staff

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Comments

  1. horvatic

    Joined: Dec 1969

    +5

    Imagine that.

    Wu is an idiot! He cried wolf for no reason and now they're eating there words or gaining on the market manipulation they pulled to lower Apple's stock price so they could buy more shares. Knowing full well that the price of the stock would go up. Hopefully some ANALysts will get a clue and not take this guy seriously anymore. There was no evidence to show Apple was headed anywhere but UP.

  1. horvatic

    Joined: Dec 1969

    +4

    Imagine that.

    Wu is an idiot! He cried wolf for no reason and now they're eating there words or gaining on the market manipulation they pulled to lower Apple's stock price so they could buy more shares. Knowing full well that the price of the stock would go up. Hopefully some ANALysts will get a clue and not take this guy seriously anymore. There was no evidence to show Apple was headed anywhere but UP.

  1. mgpalma

    Joined: Dec 1969

    +2

    Translation

    We have no idea how to evaluate Apple's stock or the company. We suck and should be ignored.

    Move on, nothing to hear here...

  1. Feathers

    Joined: Dec 1969

    +3

    slap the cuffs on...

    Either this guy is really stupid or he's really clever. Either way, I think he should be investigated by the S.E.C. This isn't just a straight forward "...my bad!" This pillock has responsibilities that go with his influence!

  1. testudo

    Joined: Dec 1969

    -5

    Re: Imagine that

    Well, I'm not sure what you mean about 'some analysts will get a clue'. Wu is an analyst. Wouldn't you hope other analysts are doing their own analyzing, and not just listening to other guys (otherwise, why not just go to the one doing the 'real' work).

  1. climacs

    Joined: Dec 1969

    +3

    this never, ever gets old

    "Apple's valuation is now more than quadruple Dell's"

    The only fair thing for Michael Dell to do, would be to liquidate and distribute the proceeds to shareholders.

  1. climacs

    Joined: Dec 1969

    +2

    i doubt

    that the recommendations of a single analyst would cause AAPL to lose a significant chunk of its value. I don't see any evidence of an attempt to manipulate stock price. Wu got it wrong.

    Bottom line: don't base your stock-picking solely on what analysts say. You'd do better reading goat entrails or throwing darts.

  1. ZinkDifferent

    Joined: Dec 1969

    +2

    Give Wu Credit....

    ...mosts analysts will not admit they made a mistake, or were in error. Wu admits so, and corrects himself.

    While I don't always agree with Wu, he is generally pretty accurate in picking up on AAPL trends, based on what the company does (not stupid numbers analysis, like most of his colleagues).

    As analysts go, Wu is one of the better ones.

  1. ClevelandAdv

    Joined: Dec 1969

    +1

    Wu stated...

    ...Um, oops!

  1. MacnnChester

    Joined: Dec 1969

    +1

    Well...

    Wu said almost a year ago that Apple would get to 210 and I sort of thought that was major speculation, but in the end he was probably right.

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