Credit Suisse Downgrades Apple Target Price
Credit Suisse Downgrades Apple Target Price
by , 8:50 AM EDT, September 30th, 2008
Credit Suisse analyst Steven Soranno cut his target price for Apple Inc shares from US$200 down to $160 on Tuesday, echoing investor concerns over the current financial instability in the U.S.
Mr. Soranno maintained that Apple has a strong product lineup, which will likely help the Mac and iPod maker as it moves forward through the weakening U.S. economy.
Apple's stock took a big hit on September 29 as well when investors and analysts became more concerned about the slowing economy. Morgan Stanley's Kathryn Huberty cut Apple from Overweight to Equal Weight, citing concerns over slowing PC sales. RBC analyst Mike Abramsky rated Apple down to Sector Perform from Outperform over concerns about the electronics market.
Mr. Soranno is maintaining his Buy rating for Apple stock, although his new $160 target price represents a $40 drop. Apple closed on Monday at $105.26, and is trading in the pre-market at $107.65, up 2.39 (2.27%).
[Thanks to setteB.IT for the heads up.]
Observer Comments
Tue Sep 30, 2008 10:11 am Subject: Sorrano and the other two IDIOTS are WRONG!!!!!!!
Sorrano and the other two IDIOTS are WRONG!!!! Now is the time to BUY, BUY, BUY, BUY, until the stock is at $250!!!!!! Apple has the strongest sales of all PC manufacturers, and is Debt FREE, and also has a lot of extra cash in the bank. 20 BILLION plus. Apple also is the innovator of new products, so further sales are likely to be very strong as well. These so called ANAL-ISTS are talking through there ASS!
Comments are currently closed. Please email the author instead.
Recent Headlines - Updated February 13th
- Mon, 9:15 AM
- News - Apple Files Motion to Stop Galaxy Nexus Sales in U.S.
- 8:20 AM
- News - Steve Jobs Given Trustees Award at the Grammys
- Sat, 4:11 PM
- MacOS KenDensed - MacOS KenDensed: iPad 3 Frenzy, Big-time Apple & Steve Jobs, G-Man
- Fri, 8:10 PM
- News - Apple Sues Motorola Mobility in California Over German Case
- 7:54 PM
- Free on iTunes - OnLive Desktop: Windows & Office on Your iPad
- 7:43 PM
- Product News - Apple Rolls Out MacBook Air Configurations for Education
- 6:35 PM
- Just a Peek - Battle Pocket Bulge With The Hint for iPhone
- 6:01 PM
- Rumor - Apple Reportedly Bringing MacBook Air Styling to Pro Line
- 4:50 PM
- Particle Debris - The Hidden Gotchas of Browser Security
- 3:56 PM
- Apple Stock Watch - Analyst: Paying a Dividend Makes Sense for Apple
- 2:58 PM
- Deal Brothers - iMac 27-inch 2.93GHz Intel Quad-Core i7 processor: $1,999
- 2:45 PM
- In-Depth Review - Theodolite App for iOS is Breathtaking
The Mac Observer Reader Specials
TypeStyler 11 is now in the Mac App Store!! -- Special Introductory Price of $59.95!! -- To Buy From The Mac App Store Click Here Now!! Or buy direct
from Strider Software.
Mac RAM Upgrades: MacBook Pro 16GB kits $475, 8GB Kits for $119.99! iMac 16GB RAM Kits (4x 4GB) for $229.99! Mac Pro Memory 32GB Kit for $399.99, 64GB Kit for $889.99! Mac Hard Drives 2TB Seagate SATA II for $249.99! Click Here!
-
If you're using a Mac, then you've gotta check out Online Poker Mac.
This mac poker and online casino mac site
actually does the unthinkable, it actually rewards! -
-
-
-
-
-
