Apples Stock Falling and Rising Yet Again
12.13.06 - 03:57pm
Analyst Josh Bernoff wrote “People who thought that iTunes would save the music business now have to sober up and realize that’s not true,” this being written based on a Forrester Research Report which reported sales dropping 65% in the first six months of the year.
And with this news Apples’ stock fell yesterday $2.08.
Yet today it rises once again and analysts are still raising target prices. Analyst Rebecca Runkle, with Morgan Stanley, raised hers today from $90 to $110, and stocks rose $1.70 in accordance with her report.
The report says that with the new Apple products expected to come out this year, (i.e. the iPhone, new larger video iPod and iTV), and “…less exposure to Microsoft’s Vista OS launch could help reduce seasonal risk to Apple’s shares.”
