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Quick Hits: Ho Hum on Apple's Quarter


Brief scrutiny of today's headlines.

Apple (AAPL) guided the next quarter lower last night, just matching estimates. But the company met on revenue and the downward forecast wasn't as steep as some past quarters. After-hours selling could easily turn positive today given these numbers.

The Apple storyline will heat up again in the coming weeks and months, as innovation meshes with new product cycles.

Expectations ran high running into the quarter. In the near-term, assuming that Ambac (ABK), MBIA (MBI) and other major investment banks don't file bankruptcy, Apple's share price could possibly drop into the $140 range. Given a longer time frame, this would be an excellent time to buy the stock.

The upside target on Apple is well into the $200 zone. This is based, of course, on accelerating market share, more iterations of the iPhone and iTouch platform, increasing market share for Mac OS, Apple's operating system, and monetization of deals with Google (GOOG) and other mobile advertising partners as iTouch becomes one of the leading, if not the leading, broadband enabled mobile platforms.
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