S&P Equity Research Maintains STRONG BUY Rating on Apple Shares

October 05 00:00 2011

NEW YORK, October 5 (RainbowNewsLine.com): Analyst Clyde Montevirgen of S&P Equity Research maintains his STRONG BUY rating on Apple shares (NASDAQ: AAPL). The target price has been raised from $455 to $495.

Analyst Clyde Montevirgen of S&P Equity Research, in a research note published yesterday, mentions that the company’s newly launched Apple iPhone 4S would attract consumer interests due to  improved processing and downloading speed, new games and applications. Apple has been engaged in strategic promotion to capture market share by lowering the prices of older models and allying with Sprint to get a wider distribution. The analyst predicts higher margin and increased sales volume from the iPhone 4s and hence suggesting a STRONG BUY for Apple stock. The EPS estimates for 2011 and 2012 have been raised by $0.12 and $3.77, respectively.