|[11:30 AM] Apple Stock Upgraded by ABN AMRO - Strong Earnings Results Expected Next Week
ABN AMRO has upgraded Apple this morning from an Outperform to a Buy, according to a Briefing.com ratings report. Despite this upgrade, Apple's stock has been trading down all morning -- down 4 1/8 to 99 7/8 at the time of this article.
As such, Reuters is reporting that Warburg Dillon Read has reiterated its buy recommendation on Apple, as well. According to Reuters:
Warburg Dillon Read said on Thursday it reiterated its buy recommendation on Apple Computer Inc.
- Reiterated $125 price target.
- "We expect strong results for the earnings release next week."
- "We believe Apple is proving that it can keep up the momentum that has pushed its stock price to new heights."
The Mac Observer Spin: Despite the fact that Steve Jobs played most of his earning-related cards close to the chest at yesterday's keynote speech, he did indicate that Apple's sales were WAY up, and that Apple was prospering as usual. No doubt that these hints yesterday were the catalyst behind today's upgrade.
Apple Computer - MACWORLD Expo SF Special Report