toggle

AAPL Stock: 124.25 ( -0.18 )

Printed from http://www.macnn.com

Sterne Agee maintains Buy rating after Johnson departure

updated 04:30 pm EDT, Thu June 16, 2011

'Deep bench' of talent should overcome retail loss

Sterne Agee analyst Shaw Wu is offering a positive opinion of Apple's prospects after its loss of retail head Ron Johnson to JC Penney. While the departure is considered a definite loss for Apple, Wu sees a "deep bench" of talent in the retail division, and believes the company's culture and way of thinking is ingrained to the point where it can manage even talented departures well.

As examples, Wu cites the departures of Jon Rubenstein, head of hardware engineering; Avie Tevanian, head of software engineering; Fred Anderson, CFO; and Tony Fadell, considered to be the the father of the iPod. Despite those losses the company has reaped large profits and Wu believes the success will continue.

Wu is maintaining a Buy rating, expecting Apple stock to outperform in a tough economic environment thanks to strategic and structural advantages, such as vertical integration. Wu is holding to a price target of $460.






by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Apple 13-inch MacBook Pro (Early 2015)

Although the new darling of the Apple MacBook line up is the all-new MacBook, Apple has given its popular 13-inch MacBook Pro with Ret ...

Griffin Twenty

A few years ago Griffin launched the original Twenty, a small digital amp that used an AirPort Express to turn any set of passive spea ...

Seagate Wireless

It seems like no matter how much internal storage is included today's mobile devices, we, as users, will always find a way to fill th ...

toggle

Most Commented