Citing risk-reward considerations, analysts for Standard and Poor's Equity Research cut their rating on shares of Apple Inc. to "Hold" early Monday.
"We believe Apple's fundamentals remain strong on market-share gains in desktops and laptops, success with digital-media players and software, and notable inroads in the smartphone category," wrote analyst Scott Kessler.
As a result of these successes, the analyst said he believes Apple should trade at a greater premium to the price/earnings-to-growth rate of the S&P 500 Technology Sector. He therefore raised his 12-month target price on shares of the Cupertino-based company to $155 from $135.
Simultaniously, however, Kessler hedged long-term bets on the stock by cutting his rating to a "Hold."
"We think our downgrade is warranted by risk-reward considerations, especially with expectations high and Apple scheduled to report June-Q results on Wednesday," he wrote.
In late May, Standard & Poor's announced that Apple had joined its prestigious S&P 100 index of big blue-chip companies.
"We believe Apple's fundamentals remain strong on market-share gains in desktops and laptops, success with digital-media players and software, and notable inroads in the smartphone category," wrote analyst Scott Kessler.
As a result of these successes, the analyst said he believes Apple should trade at a greater premium to the price/earnings-to-growth rate of the S&P 500 Technology Sector. He therefore raised his 12-month target price on shares of the Cupertino-based company to $155 from $135.
Simultaniously, however, Kessler hedged long-term bets on the stock by cutting his rating to a "Hold."
"We think our downgrade is warranted by risk-reward considerations, especially with expectations high and Apple scheduled to report June-Q results on Wednesday," he wrote.
In late May, Standard & Poor's announced that Apple had joined its prestigious S&P 100 index of big blue-chip companies.
New good news...Kardstadt stores will sell the iphone in Germany late this year... the stores hope by Christmas .No announced carrier yet . Onward and upward.
That the true out the door sales of iPhones were 500,000 as some suggested, and that exactly 356,000 people went home and sat on their paperweight iPhone for 3 days? These are the real numbers, and for all the talk in the past few days about how someone's "model" did not factor in this or that, I would think factoring-in iPhone sales below EVERY model would be something you'd want to do.
