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 22nd

Thu,8:02 PM
Week of Who, Day Four: Inspector Spacetime
6:52 PM
Apple Releases Keynote 6.2.2 with ‘Stability Improvements’
6:45 PM
Apple Releases iMovie 10.0.5 for iCloud and iMovie Theater
6:27 PM
Antminer S3 453 GH/s Bitcoin Mining Rigs Improve Energy Efficiency
6:13 PM
TMO Daily Observations: 2014-08-21
5:20 PM
Apple’s Stock Holds Above $100 with New Record Close
3:52 PM
Five Deals on Mac Apps: TuneUp, TwistedWave, Stuffit Deluxe, Elite Keylogger, Crossover
2:20 PM
An iPhone Veteran Evaluates an Amazon Fire Phone
10:29 AM
3 Free iPhone Apps for Ordering from the Starbucks Secret Menu
9:02 AM
Samsung Doesn’t Have to Pay Apple Attorney Fees Because iPhone wasn’t Famous
Wed,9:40 PM
Week Of Who, Day 3: Craigy Who and Mr Timey Pants
6:49 PM
ACM 268: Apple Copycats, Ad Agencies, and Steve Ballmer: Sports Mogul
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!