Apple target 257

Topspin

Topspin

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W.R. Hambrecht analyst
raises Apple target to $257 a share

By Rex Crum

SAN FRANCISCO (MarketWatch) -- W.R. Hambrecht analyst Matthew Kather on Monday raised his price target on Apple Inc.'s stock to $257 a share from $238. In a research note, Kather said that despite challenges in consumer spending, he expects Apple's stock to outperform the broader tech market due to the the outlook for Macintosh PC and iPhone sales. Kather said the iPhone "has the potential to be the next major category driver for Apple" heading into 2009. Apple shares gave up $3.35, or 2%, to trade Monday at $158.72.
 
Investors seem worried. RIM's high-flying shares have sold off more than 20% since peaking above $148 in mid-June. The stock took a sharp dip on the week that Apple launched its much-more competitive, lower-cost 3G iPhone on July 11.
Adding more pressure to the stock are reports from the blogosphere about problems with a new touch-screen BlackBerry -- a product that the Waterloo, Ontario-based company has never even officially announced. But the touch-screen BlackBerry is real enough to RIM's shareholders and to Wall Street, where many analysts already have baked the release of the product into the company's outlook. On Monday, a RIM spokeswoman declined to comment on rumors.
In short, rumors about a product the company has never even claimed to have are contributing to a sell-off that's wiped out about $14 billion of its market value.
"RIM's counting on new iPhone look-alikes to stem the tide," wrote Charlie Wolf, a Needham & Co. analyst who downgraded RIM to a sell rating two weeks ago. "While these models should enjoy some success, they have no hope of matching the secret sauce of the iPhone -- the tight integration of hardware and software that creates a unique user experience."
 
Topspin said:
Investors seem worried. RIM's high-flying shares have sold off more than 20% since peaking above $148 in mid-June. The stock took a sharp dip on the week that Apple launched its much-more competitive, lower-cost 3G iPhone on July 11.
Adding more pressure to the stock are reports from the blogosphere about problems with a new touch-screen BlackBerry -- a product that the Waterloo, Ontario-based company has never even officially announced. But the touch-screen BlackBerry is real enough to RIM's shareholders and to Wall Street, where many analysts already have baked the release of the product into the company's outlook. On Monday, a RIM spokeswoman declined to comment on rumors.
In short, rumors about a product the company has never even claimed to have are contributing to a sell-off that's wiped out about $14 billion of its market value.
"RIM's counting on new iPhone look-alikes to stem the tide," wrote Charlie Wolf, a Needham & Co. analyst who downgraded RIM to a sell rating two weeks ago. "While these models should enjoy some success, they have no hope of matching the secret sauce of the iPhone -- the tight integration of hardware and software that creates a unique user experience."
Click to expand...

I noticed you forgot to mention that Apple's stock is down about 25% from its peak.
 
Topspin said:
which makes it a shitty trade right now,
Care to wager I get at least 10% before year end?
Click to expand...

Care to wager that I will make more having waited for the pullback? I picked up the calls this morning. If it hits $200 by year end... you make 15%... I make 100%.
 
No way I already stated I'm not smart enought to do options.
I did buy BAC yestarday and dumped it today for $250 profit.
 
Who cares it is still way above what I paid for it.
And will go back up anyway.

right now if I get hungry I can trade an eagle for a cow.
 
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