You'll get your Mac news here from now on...

Help TMO Grow

Advertising Info

The Mac Observer Express Daily Newsletter

More Info

Site Navigation

Columns & Editorials

September 27th, 1999

[10:30 AM] Wall Street Analyst Raises Apple To "Buy"

Banc of America Sec has raised their rating on Apple today to a Buy from Market Perform. This is the first ratings upgrade for Apple since July 26th when Soundview initiated coverage of Apple at a Buy. According to a Reuters report:

Banc of America analyst Kurt Kind said he raised his rating for Apple Computer Inc. Monday to buy from market perform.

"We still need convincing on the longer-term growth story, but believe the news in the near term is likely to be positive and that restored investor enthusiasm could lift the stock toward our $80 target price fairly quickly," King wrote in a report.

"The near-term outlook includes the launch of a new iMac, the possible unveiling of Apple's Internet strategy and projected FY 1Q revenue growth -- helped by shortage-induced backlogs for recently introduced products -- that would be Apple's highest in almost five years."

He added, "We're slightly reducing our 4Q (September) estimate due to notebook delays out of Taiwan but maintaining our estimates otherwise. Our 1Q (December) estimate of $0.93 is $0.04 above Street consensus."

This move comes as Apple's stock fell by nearly 20% during last week's trading. Despite today's rating from Banc of America Sec, Apple is selling lower during morning trading. As of this writing, Apple was trading at 63 1/4, a loss od 1 11/16. Much of the rest of the market is trading higher, including IBM, Motorola, Microsoft, and Intel. [Editor's Note: In fact, if you check Apple Stock Watch Stock Quotes included on our home page, the only stock in the red as of this writing is Apple's.]

For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.

The Mac Observer Spin: This comes at a good time for Apple, though the market has not paid much attention to the news. Combined with the impending release of the new iMac that we reported last week, Apple could possibly be looking at regaining some of the losses recently incurred.


Today's Mac Headlines

[Podcast]Podcast - Apple Weekly Report #135: Apple Lawsuits, Banned iPhone Ad, Green MacBook Ad

We also offer Today's News On One Page!

Yesterday's News


[Podcast]Podcast - Mac Geek Gab #178: Batch Permission Changes, Encrypting Follow-up, Re-Enabling AirPort, and GigE speeds

We also offer Yesterday's News On One Page!

Mac Products Guide
New Arrivals
New and updated products added to the Guide.

Hot Deals
Great prices on hot selling Mac products from your favorite Macintosh resellers.

Special Offers
Promotions and offers direct from Macintosh developers and magazines.

Browse the software section for over 17,000 Macintosh applications and software titles.

Over 4,000 peripherals and accessories such as cameras, printers, scanners, keyboards, mice and more.

© All information presented on this site is copyrighted by The Mac Observer except where otherwise noted. No portion of this site may be copied without express written consent. Other sites are invited to link to any aspect of this site provided that all content is presented in its original form and is not placed within another .