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It's "Black Friday" on Wall Street today. Following what can only be called "Black Thursday" yesterday - a trading session that saw the Dow off by more than 500 points...
08-05-2011, 11:19 AM #1
Needham & Company Projects Apple Stock at $540
It's "Black Friday" on Wall Street today. Following what can only be called "Black Thursday" yesterday - a trading session that saw the Dow off by more than 500 points - equities are once again cascading downward on lingering economic uncertainties and global financial unrest.
Since July 21, the Dow has closed lower in 9 of the last 10 trading days (looks like it will be 10 out of 11 after today). Amidst the carnage, even shares of Apple have been clobbered. Shares of AAPL are currently trading at $370, well off from their $400+ highs last month.
So is this a buying opportunity in the markets? That is a question few analysts and economists can answer in broad terms. But when you focus in on Apple, all signs point to a pullback only born of a market panic, not a loss of confidence or faith in Apple. As a result, no shortage of prominent investment firms are saying Apple is a tremendous buy that could take off like a rocket in the months to come.
On Friday, investment giant Needham & Company jumped in front of the Dow-downer and heightened its price target for Apple stock to $540. How will we get that high? The investment firm estimates that Apple will break the bank next year on sales of a projected bastion of 54 million iPads and another 108 million iPhones.
To read more about this lofty projection from this morning's Barron's, click here.
08-05-2011, 11:41 AM #2
Maybe apple should help the U.S on how to mange a budget.Nothing in life is easy.
08-05-2011, 12:29 PM #3
Apple teaches people how to run the country? (budget basically runs everything)
Have you seen Apple donate anything significant to anything?
If government models after Apple, everyone would be screwed.
08-05-2011, 12:46 PM #4
People donate when they have money and after they become wealthy. The US donates when it has no money where it should be working to save money and pay down debt.
08-05-2011, 03:03 PM #5
My wife bought us a few shares of Apple stock when the economy was in the tank a few years ago (remember THAT tank?) and even with this downturn, it's still waaayyyy up from then. Wish we'd gotten more.
Oh, and anyone who expects to see a corporation behave in any way other than "making money mode" doesn't really understand economics. You know the story of the frog and the scorpion? "It's my nature?" Well, that's how corporations are. It's their nature. Apple is a corporation. It sells products, has market share, a business plan, shareholders, etc. Nothing more or less.
Oh- re the above: Herbert Hoover's policies vs. Franklin Roosevelt's policies. Read history, don't watch TV.