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Goldman ups Apple target, urges investors to remain long

post #1 of 16
Thread Starter 
Investment Bank Goldman Sachs this week raised its price target on shares of Apple Inc., recommending that investors hang onto shares of the company at least through its upcoming Macworld Expo and fiscal first quarter earnings announcement.

Apple chief executive Steve Jobs will present at Macworld on the morning of Tuesday, January 15, and the company is scheduled to report its December quarter earnings a week later on January 22.

"We would remain long into these events," analyst David Bailey wrote in a research report to clients. "Although we expect most of the hardware introductions at this year's MacWorld to center on new notebooks and a greater emphasis on software and content for iPods, iPhone, and Apple TV, there will probably be enough hints of what is to come later in the year, including the next generation of the iPhone and the introduction of a sub-notebook, to keep shares in check before Apple reports its holiday-quarter earnings."

Bailey believes the Cupertino-based company's December quarter results should once again show solid revenue and earnings upside driven by strong Mac and iPod sales. As a result, he raised his per-share earnings estimate for the December quarter to $1.60 from $1.51, as well as his calendar year 2008 and 2009 per share estimates to $5.35 and $6.55 from $5.05 and $6.00, respectively, mostly driven by higher Mac assumptions.

"At the same time, coming off another strong performance in 2007 with the stock up 133 percent, we do not think Apple shares will be as explosive in 2008, and upside moves are likely to be more measured," he added.

The analyst bumped his 12-month price target on shares of the company from $205 to $220, implying an approximate 13 percent upside.
post #2 of 16
there's some catchup after today's bloodbath. God I hate the stock market.
post #3 of 16
Sounds about right for Goldman, Someone needs to tell them to take their skirts off.
post #4 of 16
Quote:
Originally Posted by jasonfj View Post

there's some catchup after today's bloodbath. God I hate the stock market.

it will be a while before the tools in the market realize that Apple stopped being a tech stock and started being a consumer electronics provider about four fkkking years ago.
post #5 of 16
Quote:
Originally Posted by jasonfj View Post

there's some catchup after today's bloodbath. God I hate the stock market.

Nah... buying opportunity.
post #6 of 16
The big reason Apple has been up recently is the booming computer business, accompanied by a growing consumer electronics business. The Intel downgrade is the main reason for the bloodbath today, as investors are worried about a build-up in inventory, especially in Europe.

We'll know in two weeks where Apple's inventory sits, but everything I have seen suggests that sales were still amazing this past quarter. If they can't guide to 25% earnings growth for Q2 then there will be a lot more blood. That's about where concensus is today, so it is going to be close.

Hopefully, we are getting enough bad information coming in for the economy overall that the Fed will look at a drastic rate cut.

I rate AAPL an aggressive buy anywhere below $180! At worst, you can get a 12% bounce in less than a month. At best, you will double your money in a year.
post #7 of 16
I guess no one got the memo (-14.88)...
post #8 of 16
Quote:
Originally Posted by AppleInsider View Post


Apple chief executive Steve Jobs will present at Macworld on the morning of Tuesday, January 15, and the company is scheduled to report its December quarter earnings a week later on January 22. "We would remain long into these events," analyst David Bailey wrote in a research report to clients.

Wow. Since when has "long" meant two weeks?
post #9 of 16
Quote:
Originally Posted by GQB View Post

Nah... buying opportunity.


Absolutely right on... check out this link from a post this time in 2006

http://www.thestreet.com/tech/gamesa.../10262751.html

or, how bout this one from a YEAR ago - http://www.appleinsider.com/articles...es_report.html
Raising target to $94.00!!! wooohoooo


(wrings hands yet buys MORE on Tuesday!!)
OMG here we go again...
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OMG here we go again...
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post #10 of 16
Quote:
Originally Posted by echosonic View Post

it will be a while before the tools in the market realize that Apple stopped being a tech stock and started being a consumer electronics provider about four fkkking years ago.

Apple is still half computer company though, it's in both sectors, it's not really here or there, but still in both.

In this case, I don't think it makes much difference. Both those industries were hit pretty hard today. Problems with housing were compounded with lower than expected job growth and increasing unemployment can be a problem for Apple.
post #11 of 16
Quote:
Originally Posted by Shogun View Post

Wow. Since when has "long" meant two weeks?

It's an stock investing/trading term. It means to buy and hold rather than bet against (short).
post #12 of 16
I was in an Apple Store today for the first time in the better part of a year (to buy a new iPod Touch). I couldn't believe how much merchandise they were moving. While I waited for the iPod to be fetched and rung up, I saw 2 iMacs and a MacBook sold. A MacBook! 9 days before MWSF! The store was the busiest in the mall and it wasn't just gawkers. Anyway, I think Apple's going to have a gangbusters quarter even on their traditionally "off" winter quarter.

And this was a the Apple Store in Freehold, NJ-- not exactly a bustling metropolis.
post #13 of 16
Yeah, even the Apple authorised (Apple-only) reseller Dataquest in Switzerland was packed on Friday!!! I've never seen this before over here.
iMac 20",Core2Duo 2.4GHz, 4GB RAM, ATI RADEON 2600Pro
iPod classic 80GB
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iMac 20",Core2Duo 2.4GHz, 4GB RAM, ATI RADEON 2600Pro
iPod classic 80GB
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post #14 of 16
Quote:
Originally Posted by Booga View Post

And this was a the Apple Store in Freehold, NJ-- not exactly a bustling metropolis.

Hey Booga, how is that Freehold store? I haven't been out there since it opened (despite its reputation as a major metropolis).
Menlo Park is such a pain to get to that I just gave up going to the stores except for service (none lately TG) and pilgramages to the NYC Flagship Cube...
Progress is a comfortable disease
--e.e.c.
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Progress is a comfortable disease
--e.e.c.
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post #15 of 16
Quote:
Originally Posted by Bageljoey View Post

Hey Booga, how is that Freehold store? I haven't been out there since it opened (despite its reputation as a major metropolis).
Menlo Park is such a pain to get to that I just gave up going to the stores except for service (none lately TG) and pilgramages to the NYC Flagship Cube...

It's, well, just like any other Apple Store in a mall. I could have been walking into the one on Walnut St in Pittsburgh, PA, for all the difference on the inside of the store. The genius bar, training, and sales desk were all combined at the back of the store (giving them a little more retail floor space), but otherwise it's not much different.

Except being insanely busy selling stuff.
post #16 of 16
Quote:
Originally Posted by Booga View Post

It's, well, just like any other Apple Store in a mall.

Thanks. I guess it would make sense that the mall stores are all about the same. Only been to one mall store (I don't aim for malls that often)...

Maybe they will put a flagship store in Red Bank...
Progress is a comfortable disease
--e.e.c.
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Progress is a comfortable disease
--e.e.c.
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