J.P. Morgan is keen on Appleis ability to innovate, but the firm has questioned Appleis ability to sell that innovation. The investment firm has initiated coverage of AAPL with a "Neutral" rating based on those two factors. From a short Forbes article covering JP Morganis comments:
"innovation has no bounds, but its valuation does." The securities firm lavishly praised Appleis latest technology. "The company is now shaping the explosive market for digital music and devices. Appleis innovations are once again changing the face of consumer electronics and its professional customer base is ripe for an upgrade cycle." However, the securities firm said these positive attributes already are reflected in the current stock price.
According to Forbes, J.P. Morgan also says that the education market has potential for Apple, but that Dellis "ultra efficient sales model" will make competing in that market very difficult for Apple. You can find the full article at J.P. Morganis Web site.
As of this writing, AAPL is trading at 21.61, down .10 (-0.46%), on moderate volume of 3,254,628 shares trading hands.
No Comments
Add your comment