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
- Wall Street impressed by Apple's surprise second quarter, analysts see stock headed to new highs
- Tim Cook: Angela Ahrendts to join Apple next week, thanks outgoing CFO Peter Oppenheimer
- Apple's Q2 iPhone sales boom, carry declining iPad performance
- Notes of interest from Apple's Q2 2014 conference call
- Apple announces 7-for-1 stock split, buybacks bumped to $90 billion