Wall Street is nearly unanimous in its assessment of the formidable tech giant Apple (AAPL) and Steve Jobs announced his resignation as CEO: the 19 most analysts remain bullish that job Apple stock from Apple. Jobs announced Wednesday night that he will resign as chief, but remains as chairman. Chief Operating Officer Tim Cook is taking the CEO position.
"While we value and strategist Steve Jobs vision, we believe he is a superior organization is supported by talented engineers and managers who can execute product roadmaps and ensure growth made," says C. Montevirgen, equity analyst at Standard & Poor's who follows Apple. He is maintaining his "strong buy" recommendation on the stock with a 12-month price target of $ 455 per share.
Jobs long battle "with pancreatic cancer has been well known. "We also believe investors have to manage transition, according to the Apple market, the price-earnings ratio of 10.9 times our calendar 2012 EPS estimate ($ 27.64 per share) anticipate," says Montevirgen. The analyst still expects earnings to grow more than 60% and nearly 20% in 2011 and 2012, respectively. "We believe the stock is undervalued," he adds.
"We are saddened by the deteriorating health of Steve Jobs' and his resignation as CEO of Apple, but his departure was partly in stock," said Mark McKechnie, an analyst at Think Equity in San Francisco. He says: "We maintain our view of Apple as the best large-cap equipment to play on smartphones and tablets," and he reiterated his buy rating on the shares with a price target of $ 475.
Four reasons to buy Apple's now:
The Apple machine has momentum as "Apple has built a culture and ecosystem that can be sustained for years to come," McKechnie says. This is one of the main reasons why Apple remains a buy, he adds.
Three other reasons to buy now from Apple, he says: A big overhang on the stock market has been lifted as Jobs' health problems are weighing on the stock for several years, the catalyst will be iPhone5 this fall, and iPad3 starting end of December, going back should bring long lines of customers waiting to buy these devices, and Apple's valuation is attractive. After hours trading on Wednesday, the share decreased to $ 355 per share, a decrease of the official closing at the end of the session of $ 376.18. This morning (Thursday), the shares opened at $ 365.08 a share and the stock had sharpened 11:40 higher to $ 371.
"While we value and strategist Steve Jobs vision, we believe he is a superior organization is supported by talented engineers and managers who can execute product roadmaps and ensure growth made," says C. Montevirgen, equity analyst at Standard & Poor's who follows Apple. He is maintaining his "strong buy" recommendation on the stock with a 12-month price target of $ 455 per share.
Jobs long battle "with pancreatic cancer has been well known. "We also believe investors have to manage transition, according to the Apple market, the price-earnings ratio of 10.9 times our calendar 2012 EPS estimate ($ 27.64 per share) anticipate," says Montevirgen. The analyst still expects earnings to grow more than 60% and nearly 20% in 2011 and 2012, respectively. "We believe the stock is undervalued," he adds.
"We are saddened by the deteriorating health of Steve Jobs' and his resignation as CEO of Apple, but his departure was partly in stock," said Mark McKechnie, an analyst at Think Equity in San Francisco. He says: "We maintain our view of Apple as the best large-cap equipment to play on smartphones and tablets," and he reiterated his buy rating on the shares with a price target of $ 475.
Four reasons to buy Apple's now:
The Apple machine has momentum as "Apple has built a culture and ecosystem that can be sustained for years to come," McKechnie says. This is one of the main reasons why Apple remains a buy, he adds.
Three other reasons to buy now from Apple, he says: A big overhang on the stock market has been lifted as Jobs' health problems are weighing on the stock for several years, the catalyst will be iPhone5 this fall, and iPad3 starting end of December, going back should bring long lines of customers waiting to buy these devices, and Apple's valuation is attractive. After hours trading on Wednesday, the share decreased to $ 355 per share, a decrease of the official closing at the end of the session of $ 376.18. This morning (Thursday), the shares opened at $ 365.08 a share and the stock had sharpened 11:40 higher to $ 371.
No comments:
Post a Comment