Apple Continues To Be Market Maker
September 02, 2010 8:59 AM
The Apple (NASDAQ: AAPL) event yesterday had few surprises as the anticipated iPod line, Apple TV, and iTunes received makeovers. According the Piper Jaffray, two of the major takeaways from the event are that Apple is making a big push into the living room and Apple is increasingly offering products that are accessible to a wide range of consumers with lower priced iPods and Apple TV. Piper Jaffray has a buy rating on Apple with a price target of $371.
In a recent report, Deutsche Bank said that Facetime and Ping could be a significant driver of increased customer loyalty across the entire Apple family. In addition, the social networking aspect of iTunes Ping makes the store incrementally stickier to users. Deutsche bank has a buy rating on Apple with a price target of $375.
Citigroup was impressed with the new products reiterating their Buy rating on the stock. IPad and iPhone build plans remain above the 2H10 estimates while lead time continue to contract. Though there has been softness in the demand for PCs, Mac orders remain strong. Lastly a CDMA version of the iPhone seems to be in the near future. Citigroup has a $350 price target on Apple.
Apple closed yesterday at $250.33
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