Analyst Downgrades AAPL Citing Economic Worries & School Budgets
Analyst Downgrades AAPL Citing Economic Worries & School Budgets
by , 11:00 AM EDT, April 8th, 2008
Morgan Keegan & Co. lowered its rating Tuesday on Apple Inc.'s stock to a Under Perform, down from a Market Perform rating. Coming a day after Thomas Weisel & Partners raising its own rating for AAPL to Overweight, Morgan Keegan & Co. said that decreased consumer spending in the tech space was going to hurt Apple, along with ongoing budgetary issues in U.S. public schools.
At issue is the economy, where the firm sees, "mounting evidence of broad-based weakness in consumer technology spending in the U.S. and Europe." The San Jose Business Journal reported that the firm expects to see pressure in Apple's education business due to budgetary constraints.
In contrast, Thomas Weisel & Partners upgraded Apple to Overweight on Monday, citing the company's long-term growth opportunities. Thomas Weisel & partners also raised its price target on AAPL to US$195 per share, up from $188.
Apple traded lower in the mid-morning trading session on Tuesday at 155.754, down 0.136 (-0.09%) in moderate volume.
*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.
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.
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Fatal error: Call to a member function sql_query() on a non-object in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 532
Recent Headlines - Updated May 20th
- Mon, 2:55 PM
- Quick Look Review - Manage Your Movie Wish List on iPhone with ToDoMovies
- 2:32 PM
- Analysis - Samsung’s Answer to App Developer Interest: We’ll Pay You, Maybe
- 11:42 AM
- Manage Your App.net Account with Passport
- 10:59 AM
- Rumor - Rumor Claims Apple Testing iWatch Display
- 10:14 AM
- News - Dallas Apple Store Loses iPhones in Theft
- 9:33 AM
- TMO Appearances - Jeff Gamet on Singing Astronauts & Whovians Fighting Jedi on The BIG Show
- 8:45 AM
- News - Yahoo! Buys Tumblr in $1.1B Deal
- Sat, 10:30 AM
- How-To - How to Assign Custom Icons to Desktop Files & Folders in OS X
- Fri, 8:10 PM
- Free on iTunes - 3 Free iOS Apps We Hope You Never Need
- 7:52 PM
- The Back Page - Apple’s ‘iRadio’ Streaming Excites Labels, Sony Hung on Skipping
- 3:50 PM
- Particle Debris - How the War Between Apple & Google Will be Won
- 3:29 PM
- News - Pentagon Approves iPhone & iPad for Military Use
The Mac Observer Reader Specials
-
-
-
-
-
-
-
-
-
Support TMO, Buy from Amazon, MacMall and The Apple Store
