An apple a day has been prescribed for any number of ailments, including improving poor grades and stepping up oral hygiene. This morning brings hope that an apple will shine bright enough to stop the stock market from skidding.
Apple (AAPL) shares zoomed in pre-market trading after receiving a share price increase from Goldman Sachs. The investment bank placed the stock on its "Americas Conviction Buy List" and now sees it moving to $220 from its previous target of $185. Merrill Lynch also got in on the act, reiterating its buy rating and raising the price target to $215 from $186.
Apple is the most innovative company on the planet -- with all due respect to Google (GOOG) --and I think its product pipeline will make it a $300 stock in the next 24 months. In the meantime, the big spark is expected to be the early unveiling of the 3G iPhone.
Frankly, I'm surprised it took this long for Goldman Sachs (GS) and Merrill Lynch (MER) to be convinced.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Get The Minyanville Daily Recap Newsletter
Stay current on financial news, entertainment, education and smart market commentary.