Apple's Stock Issued Buy, Outperform Ratings
by , 8:15 AM EDT, September 1st, 2004
NewRatings.com is reporting that two analysts have reiterated or maintained their positive outlooks on Apple's stock. First Albany has reiterated a "Buy" rating on AAPL, based in part on the new iMac G5 and what the firm sees as a reacceleration of Apple's ongoing business. The firm also mentions HP's new Apple iPod from HP as a factor for growth. From NewRatings.com:
Given the improved performance and lower or similar prices compared to the previous iMac versions, the demand for Apple Computer's iMac G5 is expected to be healthy in the forthcoming quarters, the analysts say. The company's business momentum would continue to reaccelerate in the forthcoming few quarters on account of the recent launches of hPod and iMac, according to First Albany.
Bear Stearns is maintaining its "Outperform" rating for AAPL. An Outperform rating means that the firm expects Apple's stock to outperform the market as a whole, and NewRatings reports that "[Apple's] current rating is based on the company's improved execution and multiple growth drivers."
Apple closed unchanged on yesterday's trading at 34.49, on moderate volume of 6,954,636 shares trading hands.