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 April 20th

Sat, 9:02 PM
3 Free iOS Apps To Unleash the Music In You
10:30 AM
Yet Another 25 Tips for Mastering iPhone Photography
Fri, 7:25 PM
Look Out Apple Haters, Android’s Monopoly on Large Screens Will End
5:20 PM
Why Apple Didn’t Try to Copy Google Glass
4:30 PM
Menu Bars Of The Stars
4:12 PM
How to Streamline System Preferences on Your Mac
2:56 PM
Microsoft Pilot Program Allows Developers to Respond to App Reviews
1:15 PM
Tavik’s Zippered Folio Case for iPad Air is Built for Travel
1:13 PM
Apple Maps Misses Your Coffee Shop, but Finds Loch Ness Monster
12:55 PM
Online Privacy: Track Which Apps Access Your Personal Information
10:56 AM
Judge Denies Rockstar Consortium’s Bid to Move Google Patent Fight to Troll Town
9:25 AM
Dropbox gets Deeper into Photo Management with Loom Purchase
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!