Katie MarsalNeedham & 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.
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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31 Comments
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 € price cut.
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.