Agree. AAPL is one of the cheapest stock at the top of food chain. Sep-08 FY EPS consensus = $5.14, Sep-09 FY EPS = $6.42.
http://biz.yahoo.com/ap/080123/apple_mover.html?.v=1 In a client note Wednesday, RBC Capital Markets analyst Mike Abramsky lowered his price target for the shares to $200 from $215 while keeping his "Outperform" rating.
Abramsky called the company's first-quarter performance a "strong beat," but said the second-quarter guidance "failed to categorically neutralize slowdown fears as hoped amidst a volatile market, instead stoking fears of recession risks to Apple growth."
Meanwhile, Needham & Co. analyst Charlie Wolf took a different tack from most investors Wednesday by upgrading Apple shares to "Strong Buy" from "Buy," citing the prospect that the company's computer sales should keep growing much faster than the broader PC market.
Wolf kept his $235 price target for the stock and raised his fiscal 2008 earnings-per-share estimate for Apple to $5.35 from $5.25.
That Tasty Apple Sure Is Cheap! By Anders Bylund January 23, 2008
I could understand if Apple (Nasdaq: AAPL) shares got a peeling from reporting bad numbers. It would even make sense if management's outlook sounded gloomy. But let the iCompany report the usual blowout holiday quarter and guide much the same way it always has -- and investors run for the hills, crying "uncle!"
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