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:
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.]

Recent Headlines - Updated March 1st

Sat,10:30 AM
IiPhoneography 101: Tripods for Your iPhone
Fri,8:54 PM
Apple Death Knell #68: Apple’s Stock Will Collapse Because iPhone Is Too Important
7:32 PM
Last Chance: Pay What You Want for the Learn to Design Bundle
4:30 PM
What to Expect During Apple’s March 9 Media Event
1:09 PM
TMO Daily Observations 2015-02-27: Apple Watch Media Event Smackdown
11:20 AM
Ericsson Sues Apple after Failing to Reach Patent License Agreement
10:01 AM
Analyst: Apple Watch Edition to Cost $950
8:55 AM
QuickTime & Yosemite: Recording Your iPhone or iPad Screen with iOS 8
Thu,8:36 PM
Apple Opens iWork for iCloud to Everyone
7:53 PM
This Is Why You Should Set Up Philips Hue LED Smartbulbs
7:15 PM
Apple Rumored to Bring Touch ID to Macs
4:40 PM
Last Chance To Save 55% On The Code Black HD Camera Drone
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!