Wednesday, January 14, 2009
Take it Easy Investors, AAPL Still Rated a Buy
Posted by Jeff Campbell in "Apple News" @ 10:00 AM
"Citi analyst Richard Gardner repeated the firm's "buy" recommendation for Apple stock, but reduced his estimate through 2011 to "reflect a more conservative view of consumer spending."
The report cites some softening of iPhone shipments in the last quarter of 2008 as one reason, and they lowered the 12-month target price to $132 USD from $153 USD. He further stated that they see opportunity in weakness so they are keeping Apple at a "buy" recommendation. AAPL closed down approximately $0.95 USD today on the news, that is if I am reading the Google finance site correctly.
