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:
BMO: Economy Taking a Toll on Apple's Growth

BMO: Economy Taking a Toll on Apple's Growth

by , 12:20 PM EDT, September 25th, 2008

BMO Capital analyst Keith Bachman adjusted his target price for Apple down a notch on Thursday and said that the weak economy has started to take a toll on Apple's system business.

Mr. Bachman adjusted his estimates for Apple down very slightly: 2.71 million Macs for the September quarter instead of 2.86, 12 million in 2009 vs 12.6 million and US$40B in total revenue, down only $600 million from previous estimates.

He also set his target price for AAPL at US$180, down from $190, but maintains an Outperform rating. He doesn't believe AAPL will go below $120.00.

The adjustments are minor and reflect the feeling that the economy in general will merely slow the rate of Apple's growth.

In morning trading, AAPL was on a steady rise with investor confidence likely buoyed by Wednesday's Presidential address and Congress nearing agreement on a Wall Street bailout plan. Currently AAPL is trading at US$132.02. + $3.32 for the day.


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 December 3rd

Fri, 3:25 PM
New Teaser Video for Apple TV+ Gives Audiences a Peak at 2023 Programming
Fri, 2:28 PM
The Retro 67 Charger from Shargeek Rocks Retro Looks with Modern Functionality
Fri, 1:32 PM
Travelin' Tim Goes to Arizona, iPhone Production Woes and More
Fri, 1:20 PM
Season Two of 'Slow Horses' Now Streaming: How to Watch the Espionage Comedy on Apple TV+
Fri, 12:59 PM
Apple Releases New Betas for iPhone, iPad, Mac and More
Fri, 12:32 PM
Gurman: 'realityOS' for Apple's New Mixed-Reality Headset Changes Name to 'xrOS'
Fri, 12:12 PM
Apple's Emergency SOS Via Satellite Feature for iPhone 14 Saves A Stranded Man in Alaska
Fri, 11:59 AM
Coinbase Claims Apple 'Blocked Its Last' Wallet iOS App Release Following New Policy on NFTs
Fri, 3:00 AM
But Just Wait 14 Months - TMO Daily Observations 2022-12-02
Thu, 4:51 PM
Opening an Apple Card This Holiday Season Can Net 5% Back on Apple Purchases
Thu, 3:13 PM
Concerns in China and More On the Terrible Craziness That Is Twitter These Days
Thu, 2:56 PM
Google Doodle Allows Users to Create Their Own Game to Celebrate Life of Developer Jerry Lawson
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Daily Observations
  • TMO on Twitter!