Filed under: Analysis / Opinion, Apple Financial
BusinessWeek: AAPL 'ripe for the picking'
BusinessWeek's Gene Marcial is gushing -- gushing -- over Apple stock, suggesting they're not only a good buying opportunity for those who already own some shares, but a good entry point for those who have never owned stock in the company.
"The case for Apple is simple: Its stock is cheap based mainly on strong earnings and sales growth, and the outlook for further expansion of sales and profits. And the stock's profile based on such benchmarks as its technical chart pattern and price-earnings ratio affirms Apple's attraction," he writes.
Marical quotes Standard & Poor's Thomas Smith, Barclays Capital's Ben Reitzes, and Needham's Charles Wolf -- all who have their own reasons to recommend buying the stock. Of 34 analysts who track the stock, 27 recommend buying and five recommend holding. Only two suggest you sell.
As of this writing, Apple was up by over $7 per share at 89.75 during a generally positive session this morning. The Dow Jones Industrial Average was up above 8,311, an increase of 265 points.
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Reader Comments (Page 1 of 1)
zebrum said 4:06PM on 11-24-2008
Stocks are crashing in the global economic down turn. If you put any money in the stock market then the only thing that is ripe for the picking is you! Your hard earned savings going into the pockets of Wall street crooks!
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timejumperone said 5:50PM on 11-24-2008
I agree. We haven't hit bottom, panic has not yet set in. When the S&P 500 gets close to 600 is when panic will begin (not end).
paul said 4:18PM on 11-24-2008
I remember when it was less than $20 per share. Man, I wish I had bought some back then.
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Jon said 4:59PM on 11-24-2008
A friend on mine was of this opinion when she bought Apple stock recently... at $120/share. Sure, Apple is doing well right now, but that has already been factored into the purchase price (just like MSFT). Without a compelling reason to drive an uptick and an economy that thinks it's 1930 all over again it's unknown when the price will shoot back up.
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KA said 5:33PM on 11-24-2008
And some more good news: Safari 3.2.1 contains "stability improvements".
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AP said 9:09PM on 11-24-2008
Shouldn't you disclose whether you -- or the rest of the editorial staff -- own shares of Apple?
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Robert Palmer said 9:11PM on 11-24-2008
I can't speak for my colleagues, but I've mentioned before (once on the talkcast, once in a post) that I don't own any shares of any company.
eric said 10:03PM on 11-24-2008
im buying, heck they have over $20b in the bank. If you are going to own stock then buy the company's with cash..
that's "b" like BILLION
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watup962 said 4:06AM on 11-25-2008
What's troubling is that they aren't using that money wisely. They don't NEED 25b in cash right now and they aren't going under anytime soon because they have no debt. Thy should either pump some of that into r&d or go on a shopping spree for other companies.