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UBS Reiterates "Neutral" Rating For AAPL

by , 4:00 PM EST, December 30th, 2003

UBS has reiterated its Neutral rating for Apple's stock. UBS initiated coverage on AAPL in late November, and NewRatings.com says the investment bank has stated its target for the stock is US$23 a share. From NewRatings.com:

In a research note published this morning, the analysts mention that the company's November results indicate robust demand in the US. The company’s European market continues to be sluggish, while its Japanese markets are stabilizing, the analysts add. Apple Computer's November results further reveal that growth in the commercial and retail channels was significant, UBS states. According to the analysts, the company posted impressive sales in its notebooks and desktops segment.

You can find the full article at NewRatings.com. As of this writing, Apple's stock is trading at 1.29, up 0.14 (+0.66%), on moderate volume of 2,908,688 shares trading hands.

The Mac Observer Spin:

With "Hold" usually meaning "Sell," "Neutral" meaning "Definitely Sell," and "Sell" meaning "Why Didn't You Sell A Month Ago?" we find UBS's rating an interesting one when the firm is has such good things to say about Apple. There's no figuring some analysts, however, so take all this with however much salt you wish.

NewRatings.com Article

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