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AAPL Stock: 112.92 ( + 3.23 )

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Credit Suisse lowers AAPL target, 'stop loss' figure

updated 11:20 am EDT, Tue September 30, 2008

Credit Suiise lowers AAPL

Analyst Steven Soranno of Credit Suisse has joined other firms in devaluing Apple stock, reports say. Soranno comments that while Apple has a solid base with good products, the company cannot help but be affected by the overall economy, which is plagued by failing banks and limited credit. In spite of Credit posting a $200 target last month, Soranno says he is now lowering this figure to $160, though the stock is still qualified as a "buy" for investors.

The stock's "stop loss" limit has also been lowered considerably, from $130 to $82. Although the real value of the stock approached $200 as recently as May of this year, it is now sitting at approximately $110 as of press time. This in fact represents a slight rise over Monday's figures, which saw a sharp drop on the heels of warnings from RBC Capital and Morgan Stanley. Piper Jaffray challenged these views, insisting that they ignore the long term.




by MacNN Staff

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Comments

  1. bobolicious

    Joined: Dec 1969

    +1

    Waiting on new hardware..

    ...especially the rumoured quad macbook pro options- this upgrade round & the paradigm pc-mac shift may be a good reason for many to spend apple dollars in a core duo 3 year cycle and may surprise the analysts...

  1. slapppy

    Joined: Dec 1969

    +1

    Hmmmm

    But not Microsoft right?

  1. OtisWild

    Joined: Dec 1969

    +2

    Panic sales

    It could very well be that large funds may be selling everything in order to fund redemptions or come up with $$$ to pay off called debts.. Deflation looks a bit like this..

  1. ibugv4

    Joined: Dec 1969

    0

    of course not microsoft

    MS has long standing contracts that will be bringing revenue in for some time. They could totally lose the home market and still have a higher stock price than apple.

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