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.]
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 25th
- Fri, 8:04 PM
- Free on iTunes - 3 Free iOS Games - Zombies, Zombies, and More Zombies
- 7:35 PM
- Rumor - What’s Black and White and Flat All Over? iOS 7
- 6:52 PM
- Analysis - Japanese Rumor Says Apple Prepping Multicolor iPhone & iPhone 5S
- 5:32 PM
- Apple’s 1984 ‘Blue Busters’ Marketing Video in Full
- 4:53 PM
- Product News - Apple Drops Prices on Refurbished iPad 4 & iPad mini
- 3:44 PM
- Computing with Bifocals - 2 Mac Tips for Moving Your Dock & Guarding Your Secrets
- 11:29 AM
- Analysis - Apple Ads Stay Positive Despite Microsoft’s Negative Campaign
- 10:18 AM
- News - AT&T Hits Customers with a New Administrative Fee
- 9:22 AM
- News - Google, Facebook May be Facing Waze Bidding War
- 6:22 AM
- TMO Quick Tip - Terminal: Using “lsof” When Files Won’t Delete
- Thu, 9:31 PM
- News - Judge Cote Likely to Side with U.S. Against Apple
- 7:02 PM
- Editorial - Microsoft Commercials Take Swipes at Apple’s iPad
The Mac Observer Reader Specials
-
-
-
-
-
-
-
-
-
Support TMO, Buy from Amazon, MacMall and The Apple Store
