Filed under: Apple Financial
AAPL shares close up 8 percent
If you bought Apple at its lowest low yesterday, for just over a hundred bucks a share, you'd have made $13 per share back today. That doesn't cover your loss, of course, if you bought at its 52-week highs of just over $200 per share, but if you were a smart shopper yesterday, you got a heck of a deal.
Goldman Sachs analyst David Bailey said that the yesterday's price drop was "overdone" and reiterated his "buy" rating and $200 price target. Citi analyst Richard Gardner also recommended buying, but cut his price target to $170 per share.
"The recent sell off creates an opportunity as we think Apple will outperform our group through the end of the year, driven by iPhone unit upside and a strong product pipeline," said Bailey.
AAPL closed today at 113.71, up 8.45 points, or eight percent from its close yesterday.
[Via BusinessWeek.]
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Reader Comments (Page 1 of 1)
Galley said 10:06PM on 9-30-2008
Damn, I knew I should've bought a million shares this morning!
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Arthur said 10:34PM on 9-30-2008
Well, if they would release those new laptops already, I'm sure their share price will go up... grrr
(waiting since May)
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Kyle said 11:03PM on 9-30-2008
What the hell happened to Google?
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JohnPQ said 12:14AM on 10-01-2008
I think it's a sell. The entire computer line is long in the tooth. Who would even buy a Mac now?
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Brian said 4:21AM on 10-01-2008
Your insight into Apple is amazing, are you an analyst at a top city firm because you sure sound like one.
Thankfully I didn't get your memo before buying a good chunk of shares when they hit low.
Jash Sayani said 3:09AM on 10-01-2008
The stock market is just a gamble now.....
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Brian said 4:22AM on 10-01-2008
And it was what before ?
Murphy Mac said 9:29AM on 10-01-2008
I don't think not releasing the new notebooks had much to do with the drop. Apple stock, like Apple Products, has become a shiny thing on Wall Street. It's a benchmark now, and it's going to lead the way up or down as larger forces swing the market.
As a truly long investor, I could care less when the new notebooks come out. What really moves Wall Street with regard to aapl is strategic initiatives, like Boot Camp. Clearly quarter after quarter of beating estimates doesn't do it!
I picked up some more aapl in the bargain bin yesterday morning. I'll be bragging about it ten years from now when they say "If you'd put $10,000 in aapl in 2008 you'd have $xxx,xxx today...."
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sodapop said 3:40PM on 10-01-2008
The drop was because a couple key stock appraisers appraised the entire computer industry down, not just Apple.
sodapop said 3:41PM on 10-01-2008
I bought Apple when it dropped in 2000. On the day it dropped 20 points, I still had almost 800% growth.
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