Tuesday, June 12, 2007

Betting Against Apple (AAPL) Is Not So Easy

While I wondered yesterday if WWDC would result in a near term top of AAPL and the shares did pull back, it wasn't a long lasting decline. When you bet against Apple, you're betting against some mighty powerful forces. A variety of analysts have been defending the stock:
  • Caris & Co has lifted its price target on AAPL to $140 from $115 seeing little reason for shares to move lower ahead of the iPhone debut on June 29.
  • JMP and Deutsche bank both defended the stock saying weakness is a buying opportunity.

But there was one downgrade: Think cut to Accumulate from Buy seeing 8% upside to its $130 target.

I have no position in Apple.

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