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  • Jeffries Upgrades AAPL to 'Buy'

    Even with equities trading mostly lower Monday, shares of AAPL are up slightly and approaching $490 as the closing bell looms.

    Helping to light a small fire under AAPL today is a new report from Jefferies. The investment firm has finally upgraded its rating on Apple to 'buy' and set a price target of $600.

    A prominent Jeffries analyst tells the AP that supply chain checks bode favorably for the cost of doing business for Apple. And strong opening sales for the company's new iPhone 5s and iPhone 5c aren't hurting either.

    Peter Misek of Jefferies LLC said in a client note that it appears Apple's suppliers have become more lenient on price, which is helping the company's gross margin. This, coupled with enthusiasm over the iPhone 6, could give a boost to Apple's shares, he wrote.
    While it may be hard to believe that we're already discussing the iPhone 6, Misek estimates that as many as 85 million iPhones will be eligible for upgrades when the iPhone 6 debuts next year. In short, that could mean big business for Apple. And what's good for Apple is good for its stock.

    Source: AP
    This article was originally published in forum thread: Jeffries Upgrades AAPL to 'Buy' started by Michael Essany View original post
    Comments 1 Comment
    1. towboattrash34's Avatar
      towboattrash34 -
      They are a bunch of dumb azz's. It was a buy several months ago, not when it starts climbing. A monkey could tell u to hurry up and buy before it climbs anymore. Lol