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Friday, January 04, 2008, 09:00 am
Needham opens coverage of Apple with "buy" rating
Needham & Co has reinitiated its investment coverage of Apple, noting that the Mac maker has moved past the "old" iPod to prosper with the iPhone and the Mac.Becoming the latest financial institution to track Apple in its portfolio, Needham & Co on Thursday issued its first note to investors analyzing the electronics giant courtesy of analyst Charlie Wolf.
The report issues a strong buy recommendation based on Apple's multi-pronged approach to its products and the underlying potential of the iPhone. The Cupertino, Calif.-based firm is no longer dependent on either the Mac or the iPod alone to succeed and is currently enjoying success on multiple fronts.
The iPod is "yesterday's news," Wolf says, referring to its now established position in the market. "Now the Apple story is all about the Mac and the iPhone."
He especially singles out Apple's inaugural cellular device, noting that its heavily software-based platform may be the key to its long-term success. As Apple can continually upgrade the iPhone without replacing the device itself, the handheld may remain the "gold standard" for as long as Apple wants, the analyst told clients.
Mac sales have also been helped significantly by the ability to run Windows and may help Apple more than double its world marketshare from 3 to 7 percent sometime in the next decade, he added.
Needham has set its 12-month share target at $235.
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Previous Comments View All
It is disappointing.
I hope new models, and the SDK, will help.
It is disappointing.
I hope new models, and the SDK, will help.
Let's hope Jobs has this SDK ahead of schedule at MacWorld.
This Google Android alliance doesn't need any more of a head start.
Let's hope Jobs has this SDK ahead of schedule at MacWorld.
This Google Android alliance doesn't need any more of a head start.
It's very possible that a beta, at least, may be released. Rumors are that major developers have had one in their hands at least two months now. That's certainly possible. This is a fairly simple device, compared to an open computer platform like the Mac itself.
may help Apple more than double its world marketshare from 3 to 7 percent sometime in the next decade, he added.
In recent news we learn that the market share is already near 8%. But I think it's for US only. That's why.
"Now the Apple story is all about the Mac and the iPhone."
Now THERES a Meme that bears repeating! 
If apple released the iphone at the same time worldwide, I'm sure they would have more European sales.
By the time the iphone hit the UK, it was already old news, and I was saving up for the iPhone mk2 instead.
Let's hope Jobs has this SDK ahead of schedule at MacWorld.
This Google Android alliance doesn't need any more of a head start.
From what I've read, Android may not have that great of a head start.
As an aside, I recently talked with the developers of a web based electronic medical record and they say they are eager to see develope for the iPhone. This is somewhat significant tin that the Mac platform is a very minor player in this area which is mostly dominated by windows.
Yet another daily example of the "pump and dump" strategy that Wall Street suckers people in with.
WorldCom, Enron, etc. Haven't we seen this before 100 times already?
Buy the product, use the product, but who cares what a bunch of theives think? Their objective is to milk Apple to death, and bleed you indirectly by profiting on your Apple purchases. A dumb thief robs people with a gun. A clever thief uses a pen.
"The stock is only $200, but we expect it to go to $235, so why don't you buy some?" We take a percentage, and sell the stock to you we paid less than $200 for. If it never reaches $235, they buy it back for $150. Why can't people see how rigged this game is? It's like the lottery; an occasional wins masks how many people are getting ripped off. The odds are against you. It's an "insider's" game.
Pump and dump.
Yet another daily example of the "pump and dump" strategy that Wall Street suckers people in with.
WorldCom, Enron, etc. Haven't we seen this before 100 times already?
Buy the product, use the product, but who cares what a bunch of theives think? Their objective is to milk Apple to death, and bleed you indirectly by profiting on your Apple purchases. A dumb thief robs people with a gun. A clever thief uses a pen.
"The stock is only $200, but we expect it to go to $235, so why don't you buy some?" We take a percentage, and sell the stock to you we paid less than $200 for. If it never reaches $235, they buy it back for $150. Why can't people see how rigged this game is? It's like the lottery; an occasional wins masks how many people are getting ripped off. The odds are against you. It's an "insider's" game.
Pump and dump.
Of course they have a vested interest. As with all investments, do your own homework.
But one is only a sucker if you lose money. Currently, I'm up big time, so I'm a happy camper.
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This news is a little overshadowed by Orange's report of only 70k units sold the first month+. Had hoped to see the number come in a little over 120k, personally.
Looks like it is time for a EUR price cut.