The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Banc of America Downgrades Apple, Raises Target

Banc of America Downgrades Apple, Raises Target

by , 10:15 AM EST, December 14th, 2005

Banc of America, much like Bear Stearns, is concerned about Apple's valuation, according to MarketWatch. The investment firm is changing its rating from buy to neutral. Analyst Keith Bachman thinks the reward vs. risk profile for Apple is now more balanced after the stock's rise, coupled with concern over long-term iPod sales and operating margin expectations by investors.

Overall, Mr. Bachman feels Apple's processing unit business is tracking well, commenting "We believe Apple's fundamentals are strong."

Despite concerns over valuation, Mr. Bachman raised his target price for Apple from US$52 to $76.

Apple's stock is trading down from its closing high of $74.98 on Tuesday. Currently, it is at $72.84, down 2.14 (2.85%)


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Recent Headlines - Updated August 5th

Tue,7:42 PM
Vanity Fair Cover Spread Dedicated to Taylor Swift and Apple
7:33 PM
Apple Has the Rights to Launch More Beats Stations
7:17 PM
Apple’s Stock Drops 3%, Enters Correction Territory
5:00 PM
OS X El Capitan’s Split View Is Just Plain Silly
4:49 PM
PDFpen 7 for Mac: $37
1:13 PM
TMO Daily Observations 2015-08-04: Apple’s MVNO Plans, Thunderstrike 2
10:14 AM
Thunderstrike 2 Could Attack Your Mac, but not Today
8:57 AM
iOS: Using Siri to Find Apps, Books, and Music
Mon,8:41 PM
Apple Reportedly Testing MVNO Carrier Service in U.S.
8:04 PM
Apple Buys 43 Acres in San Jose, Enough to Turn Spaceship HQ into a Fleet
6:02 PM
Apple’s ‘Ecosystem’ Developer Video
5:05 PM
Griffin’s WatchStand for Apple Watch is Beautiful, Full of Features
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!