There are reports saying “Apple enough is enough? And Has Apple (AAPL) hit rock bottom?
Oppenheimer’s Yair Reiner say’s that yes maybe they have, Reiner has indeed repeated his Outperform rating on the stock even though it has been said that he cut the price target to $145 to an astonishing $213. Also a trimmed estimate now sees FY Q4 at $1.11, which is basically down from $1.17, with ‘09 down to $5.64, from $6.29.
So this means all in all he makes a pretty strong case for the stock, and that shares now offers a 10% free cash flow yield which means a very strong balance sheet and sustainable industry with $23 billion in cash and no debt. Apple yesterday jumped $6.56, or 7.4%, to $95.30. Please read the full report here; please sign up to our newsletter where we will keep you updated via email of all the latest news.
