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AAPL Stock: 111.78 ( -0.87 )

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Piper: Investor panic over Apple stock is unfounded

updated 03:30 pm EDT, Mon September 29, 2008

Piper on investor panic

Today's sudden drop in Apple stock value is largely unwarranted, argue analysts from Piper Jaffray. The firm blames "market fears," which it says are distracting from "light at the end of the tunnel" as suggested by its own examinations. The company notes, for instance, that Street models are already accounting for wider economic problems, and may in fact be pessimistic. Piper puts FY08 Mac growth at 40 percent, and FY09 at 16 percent.

The group adds that while NPD numbers show Mac sales sliding sharply between July and August in terms of year-over-year growth, from 43 to 23 percent, this may create a distorted picture. August of 2007 was unusually important, Piper claims, as it saw the release of the first aluminum iMacs, which may have raised expectations too high for the subsequent year. Nevertheless, year-over-year figures are expected to slip to 19 percent in Apple's December quarter.

Piper likewise contends that while Apple margins may drop, assuming the prospect of cheaper Macs and a "family" of iPhones in 2009, they will not fall very far. Current forecasts call for nothing below 30 percent in CY09, and the December quarter may see numbers slightly greater than that.

One concern to Apple may be equity investments, which could fall short for the tech industry as banks continue to fail. The company is, however, said to be more immune to these problems than some of its rivals.




by MacNN Staff

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Comments

  1. climacs

    Joined: Dec 1969

    +2

    AAPL set to soar

    as soon as the House GOP gets over their hissy fit and Congress passes an aid package and the market realizes how well Apple is performing despite the recession.

    Comment buried. Show
  1. MyRightEye

    Joined: Dec 1969

    -14

    OMG

    LEARN something about economics climacs. If they pass this bill it will absolutely destroy our nation for a good 10 years. You stupid liberals think you have all the answers. It is excess credit that GAVE us this mess, and more excess credit is not going to fix it. Take a minute and listen to Ron Paul. He has been absolutely justified now. He predicted every part of this.

  1. jogdish

    Joined: Dec 1969

    +9

    I'm Buying

    I know that I am set to buy with the price this low.

    Comment buried. Show
  1. VinitaBoy

    Joined: Dec 1969

    -11

    Keep Your Politics . . .

    . . . to yourself, climacs. But since you brought it up, a quick word of advice to you and Ms. Pelosi: The next time you need someone's cooperation in any matter, DON'T INSULT THEM FIRST! If the good and honorable Speaker had keep her enormous mouth SHUT before calling the vote, the rescue measure would have passed this afternoon. Don't pee on my leg, climacs, and tell me its raining, OK?

  1. mjtomlin

    Joined: Dec 1969

    +13

    Re: OMG

    "You stupid liberals think you have all the answers"

    You're a stupid closed-minded a**. I'm a liberal and I absolutely do not agree with the bill. Stop with the labeling. People who support that bill are "people who support the bill", they're not liberal, conservative, left, right, etc... This type thinking is the cause for the fracturing of society and politics, when in fact it is ALWAYS much more complicated.

  1. Guest

    Joined: Dec 1969

    +2

    Hey, I just this great...

    ...idea!!:) Lets beat up climacs! :)Support the true Free Masons as it was Established! Happy Liberty to us all. I used to say "America is a country that likes to F**K itself" but now, starting right now, I will pour myself some fine wine and rejoice to good brotherhood.

  1. MyRightEye

    Joined: Dec 1969

    -9

    You guys don't even ...

    BOTHER to find out the facts do you? If you look at the vote, this measure was saved by Republicans. The Dems were mostly in favor of it. So I am dead right in saying you Liberals are to blame. It is your socialist and corporatist policies that removed the free market 40 years ago that has lead to this crisis. And Ron Paul has given absolutely explicit advice over and over on how to fix this mess. You are so classical of a plainly stupid brainwashed public that only knows what it reported on CNN. You will all get what you deserve you unschooled serfs.

  1. climacs

    Joined: Dec 1969

    +1

    @MyRightEye

    it is the GOP which has been running the show for nearly the entire last 8 years. If anyone is to blame for this mess, it is the GOP whose policies of corruption and deregulation led directly to the situation we are in now.

    When we finally kick them to the curb in November, we are going to get a president who will be a real leader, intelligent, able to form a coherent sentence or three off the top of his head, and he will be a president for ALL Americans, not just for the very wealthy and the Christian Taliban.

  1. Doerter

    Joined: Dec 1969

    -1

    re:MyRightEye

    sorry climacs... In their own words... here is video from a 2004 House hearing where Democrats were defending Fannie and Freddie from regulation. This is ridiculous. These are the same people that are supposedly developing a "fix" for the problem... that they caused but are so busy blaming everybody else. http://www.youtube.com/watch?v=MGTcSi7Rs

  1. MacnnGregor

    Joined: Dec 1969

    +3

    Hey neo-cons...

    Everyone was de-regulating the last 20 plus years, not the Dems. The Dems didn't force Lehman's to do anything, or AIG or any other corporation. They did it on their own.

    This is merely the bad part of Reaganomics where investing is given more tax breaks than working and Wall Street could evolve decoupled from Main Street. Time to feel the hangover that sounded so good when Ronnie was blaming the government for everything and some of you don't get it.

    Ron Paul is fine, but libertarianism like communism doesn't work in groups of over 140 people.

    Ayn Rand is laughing like a maniac at all of the ordinary folks who are losing their retirements and didn't understand that they should all be hunting their own food or bowing to the corporations to beg for pensions.

    Vinita Boy: If ANY Repub thought the bail out was a good idea and then changed their mind because they didn't like what Pelosi said, I DARE them to admit it and let America jeer their cowardly whining. No one will though. You should turn off FOX for a while and absorb reality.

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