News / Business
Apple Inc. (NASDAQ: AAPL) received a rating of "Buy" with a price target of $140
The iPhone and MAC appear to have a strong potential to capture a segment of their markets.
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Apple Inc. (NASDAQ: AAPL) has received a rating of "Buy" with a price target of $140 by Equity Stock Analysis (ESA). The report is authored by Senior Research Analyst, Lee Anderson, J.D., M.L.S.
In the report Anderson writes, "Apple's principal activities are to design, manufacture and market personal computers and related software, peripherals and personal computing and communicating solutions. It offers a range of personal computing products including desktop and notebook personal computers, related devices and peripherals, networking and connectivity products and various third-party hardware products.
Our target for Apple is $140 not withstanding the possibility of some profit-taking when the iPhone ships and before the Leopard Operating System ships in October. We base our target on these factors.
Apple continues in its plans to open 35-40 retail stores this year.
The iPhone and MAC appear to have a strong potential to capture a segment of their markets.
The "smartphone" segment is less than ten percent of the cell phone market but the iPhone will have a strong presence in that market.
The MAC may benefit from the halo effect associated with the iPhone. iPod market share in countries in continental Europe have generally doubled in the past year although iPod share remains below 50% here vs. above 50% in the UK.
The Adobe's (ADBE, NR) Creative Suite 3 and Apple's own Final Cut software supports sales of higher-end MACs."
As the saying goes...follow the money!
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