After a chat with Appleis COO Tim Cook, Goldman Sachs analyst David Bailey came away impressed with Appleis long term ability to innovate and has strongly recommended Apple stock. Forbes reported on the meeting Wednesday.
Mr. Bailey also came away from the Tim Cook meeting with the feeling that Appleis stock can be safely purchased on "any weakness."
"Apple continues to reinforce its emphasis on and ability to innovate at levels that separate it from other companies," Bailey said.
The analyst wrote to his clients that Appleis culture of innovation is so strong that they are virtually certain to maintain their string of breakthrough products. Appleis goal of 10 million iPhone sales was seen as realistic, despite the iPhoneis announced high price.
Mr. Bailey recommended that while Apple stock is subject to ups and downs due to negative speculation, Apple is highly recommended for the next few months leading to the iPhone shipments -- announced for June.
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