toggle

AAPL Stock: 111.78 ( -0.87 )

Printed from http://www.macnn.com

Oppenheimer: Apple stock rated at 'outperform'

updated 03:00 pm EDT, Thu May 22, 2008

Oppenheimer on AAPL

Apple stock is projected to do extremely well, says Oppenheimer Funds' Yair Reiner. The analyst says he is giving the AAPL listing an "outperform" rating, and a target price of $235, higher than that of several other research firms. This is based largely on predicted sales of the iPhone, which Reiner anticipates will amount to 14 million in 2008, and 28 million in 2009.

Reiner estimates that by 2012 Apple should own approximately 5 percent of the cellphone market, a contrast from Apple CEO Steve Jobs' short-term prediction of 1 percent of 1 billion, or 10 million units. The reasoning for this is said to be demand for a 3G iPhone in excess of that suggested by The Street, and the likelihood of additional iPhone variants, particularly ones aimed at the enterprise market.

Apple is poised to do well in general, Reiner comments. "We believe Apple is ideally positioned to drive and benefit from the ongoing transformation of the home PC from efficiency tool to media center, and of the wireless handset from mobile phone to media-centric pocket computer," he says.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. Constable Odo

    Joined: Dec 1969

    +2

    Huge iPhone sales...

    14 million is not a small number. I was hoping for 12 million max. That is a lot of unexpected revenue for Apple this year. I hope this guy knows what he's talking about. A few analysts seem to think the same. The 3G iPhone better live up to it's pre-release hype.

  1. climacs

    Joined: Dec 1969

    +1

    believe the hype

    there is a lot of pent-up demand for 3G iPhone, particularly if AT T offers that $200 subsidy we keep hearing about.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lackin ...

toggle

Most Commented