The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Analyst Downgrades AAPL Citing Economic Worries & School Budgets

Analyst Downgrades AAPL Citing Economic Worries & School Budgets

by , 11:00 AM EDT, April 8th, 2008

Morgan Keegan & Co. lowered its rating Tuesday on Apple Inc.'s stock to a Under Perform, down from a Market Perform rating. Coming a day after Thomas Weisel & Partners raising its own rating for AAPL to Overweight, Morgan Keegan & Co. said that decreased consumer spending in the tech space was going to hurt Apple, along with ongoing budgetary issues in U.S. public schools.

At issue is the economy, where the firm sees, "mounting evidence of broad-based weakness in consumer technology spending in the U.S. and Europe." The San Jose Business Journal reported that the firm expects to see pressure in Apple's education business due to budgetary constraints.

In contrast, Thomas Weisel & Partners upgraded Apple to Overweight on Monday, citing the company's long-term growth opportunities. Thomas Weisel & partners also raised its price target on AAPL to US$195 per share, up from $188.

Apple traded lower in the mid-morning trading session on Tuesday at 155.754, down 0.136 (-0.09%) in moderate volume.

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Recent TMO Headlines - Updated July 9th

Thu, 5:08 PM
Public Beta of iOS 14 and iPadOS 14 Now Available
Thu, 4:41 PM
Tom Hanks Tells The Story Behind 'Greyhound'
Thu, 3:40 PM
The Magic of Mac’s Option Key
Thu, 3:26 PM
Tekjoy Shiatsu Kneading Massage Pillow with Extended Velcro Strap: $44.99
Thu, 2:47 PM
Updates to Swift Learning, iOS 14 Preview – TMO Daily Observations 2020-07-09
Thu, 2:23 PM
Nokia Collaborates With Apple on Data Center Networking Tools
Thu, 2:08 PM
Quibi Loses 90 Percent of Users After Free Trial
Thu, 1:08 PM
Apple Releases Updated Swift Coding Educational Resources
Thu, 8:00 AM
How to Show Battery Percentage on iPhone XR and iPhone 11
Wed, 5:50 PM
How to Look Up Your Apple Warranty Status
Wed, 4:29 PM
Apple Won 63 Patents, Including For a Repositionable Control Accessory
Wed, 3:31 PM
Microsoft Reveals Details of Vast Phishing Campaign Against Users
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Daily Observations
  • TMO on Twitter!