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BusinessWeek: AAPL 'ripe for the picking'

by Robert Palmer Nov 24th 2008 at 3:09PM

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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BusinessWeek's Gene Marcial is gushing -- gushing -- over Apple stock, suggesting they're not only a good buying opportunity for those who...
 

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eric

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

November 24 2008 at 10:02 PM Report abuse rate up rate down Reply
1 reply to eric's comment
watup962

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.

November 25 2008 at 4:06 AM Report abuse rate up rate down Reply
info_fiend

Shouldn't you disclose whether you -- or the rest of the editorial staff -- own shares of Apple?

November 24 2008 at 9:08 PM Report abuse rate up rate down Reply
1 reply to info_fiend's comment
Robert Palmer

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.

November 24 2008 at 9:11 PM Report abuse rate up rate down Reply
.Trashes

And some more good news: Safari 3.2.1 contains "stability improvements".

November 24 2008 at 5:33 PM Report abuse rate up rate down Reply
JonnyO

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.

November 24 2008 at 4:39 PM Report abuse rate up rate down Reply
paul

I remember when it was less than $20 per share. Man, I wish I had bought some back then.

November 24 2008 at 4:18 PM Report abuse rate up rate down Reply
zebrum

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!

November 24 2008 at 4:06 PM Report abuse rate up rate down Reply
1 reply to zebrum's comment
timejumperone

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).

November 24 2008 at 4:38 PM Report abuse rate up rate down Reply
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