toggle

AAPL Stock: 132.54 ( + 1.15 )

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

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Notti smart lamp from Witti

Perhaps you've already seen our review of the Dotti LED display from Witti Design. Meet Notti, Dotti's "sibling". Notti is a softb ...

Seagate Personal Cloud (2-Bay)

When it comes to backing up files, many users are now looking to the myriad of cloud storage solutions available. There is no doubt th ...

Leitz Icon Label Printer

When you say the words "label printer" to people, they either just really don't care, or they get incredibly excited. This is one o ...

toggle

Most Commented