Tuesday, March 05, 2013, 12:06 pm PT (03:06 pm ET)
Goldman Sachs says Apple is the most undervalued stock it coversShares of Apple stock recently hit a 52-week low, but analysts at Goldman Sachs are still very optimistic about the company's fortunes, with one analyst saying AAPL is the most undervalued stock the firm covers.
via Business Insider
Goldman Sachs analyst Bill Shope on Tuesday said he still rates AAPL as a "Buy." Despite the cautious outlook of other analysts, Shope sticks with a $660 price target on the stock.
Another Goldman analyst, David Kostin, recently published a list of the Goldman-covered stocks with the most upside opportunity. Apple is at the top of that list, with 49.5 percent potential upside, ahead of Halliburton, Goodyear, Wynn Resorts, and more.
Goldman aren't the only ones with a positive outlook on Apple. Berkshire Hathaway chief and respected investor Warren Buffet said on Monday that Apple should use its cash pile to buy back more stock. Doing so, Buffet said, would be like buying dollar bills for 80 cents.
On Topic: Investor
- Pacific Crest sees larger $299 iPhone increasing profits, ups Apple price target to $635
- Apple leadership awarded 35K restricted stock unit bonus worth over $19M each
- Wall Street not surprised by Apple CFO's retirement, expecting smooth transition
- Apple CFO Peter Oppenheimer to retire at end of September
- Apple's voracious appetite for acquisitions outspent Google in 2013