Apple given 'Buy' rating, $220 target

Iria · Jul 23, 2008, 12:59 AM

Despite Apple's heavy losses overnight, research firm AmTech is predicting Apple's stock will reach $220 per share and is rating Apple a 'Buy.' Apple gave unexpectedly cautious commentary on its future gross margin predictions in its quarterly report Monday, surprising investors expecting higher estimates. While Apple's current numbers were solid, Apple's commentary on 2009, predicting a lower 30 percent gross margin, surprised AmTech and other research firms. Apple was expected to predict gross margins in the 33- to 34-percent range.
_____________
Source: MacNN

Jul 23, 2008, 12:59 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	Apple given 'Buy' rating, $220 target Despite Apple's heavy losses overnight, research firm AmTech is predicting Apple's stock will reach $220 per share and is rating Apple a 'Buy.' Apple gave unexpectedly cautious commentary on its future gross margin predictions in its quarterly report Monday, surprising investors expecting higher estimates. While Apple's current numbers were solid, Apple's commentary on 2009, predicting a lower 30 percent gross margin, surprised AmTech and other research firms. Apple was expected to predict gross margins in the 33- to 34-percent range. _____________ Source: MacNN