Kaufman raises Apple stock target to $152
updated 11:55 am EDT, Mon April 13, 2009
Kaufman ups AAPL to $152
Having formerly kept the figure identical for months, Kaufman Bros. has today issued a memo raising its price target for Apple stock. The target has been pushed from $120 to $152, reflecting what Kaufman suggests are several factors offering potential growth. Among these is WWDC in June, which should herald imminent shipment of the iPhone 3.0 firmware and new phones to match.
Apple should also be aided by the forthcoming release of Mac OS X Snow Leopard, which Kaufman suggests will help expand Mac sales beyond the recent boost provided by new iMacs, Mac minis and Mac Pros. Another major influence is expected to be the rumored Apple netbook, which could represent a hybrid between a Mac and the iPod touch, according to Kaufman analyst Shaw Wu. Potential aids could come in the form of lower service plan costs, and an overdue update to the Apple TV.
Fresh-Faced Recruit
Joined: Sep 2001
indian summer for stocks
hmph. Once again anal-cysts trying to predict the weather this summer based upon last week's weather.
Personally, I am dumping all of my AAPL should it get into the $130-$140 range. There is certainly more bad news to come for the economy. A crash in commercial real estate is just beginning. 2 more years of toxic option ARM mortgages adjusting upwards, throwing more homeowners into foreclosure and dumping more foreclosed homes onto the market. Finally, I don't believe the temporary good news for bank earnings. These institutions still have lots of toxic c*** assets on their books. They are nowhere near recovering and making profits without massive government subsidies/bailouts.
Regardless of Apple's prospects - which I am certain are bright in the mid-to-long term - the stock market is going to freak out again in the next 3 to 6 months. I'm thinking dump at $130-$135 and buy back in at ~$90 or so.
Just my $0.02.