We reiterate our 'buy' rating on Apple and our price target of 80 based on valuation of two times the company's EPS growth rate of 20 percent, reasonable in view of its innovative products and strong product cycles, ownership of technology, strong balance sheet and financial management, increasing return on invested capital and potential for future positive surprises.
More Quotes from Andrew Neff:
They're trying to create value-added. We are seeing all computer companies focus on new ways of generating revenue.Andrew Neff
We believe this means more growth and the potential to further extend its lead in the server arena.
Andrew Neff
We think the company has multiple engines of growth coupled with better execution against the goals of diversifying its revenue streams.
Andrew Neff
The impact on Apple is not clear yet. But the French are late Microsoft and Apple are already dominating the market.
Andrew Neff
We upgraded Compaq because we see clear signs of a turnaround beginning to gain traction with good pick-up in business momentum.
Andrew Neff
The stock's rich multiple requires continued strong upside surprises and estimate increases -- both of which are unlikely to happen near-term as the law of large numbers catches up with the company.
Andrew Neff
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