Tag: bear-sterns-apple

Bear Stearns upgraded Apple to “outperform” from “peer perform,” citing “an improved revenue and earnings growth rate, reduced risks for transition to Intel and an increased clarity into new product,” reports MarketWatch. Apple’s stock was last up US$1.05, or 1.3%, at $84.95 in pre-open trading, after closing at an all-time high yesterday.

Bear Sterns has downgraded Apple to “peer perform,” citing “valuation and maintaining estimates,” reports MarketWatch. The broker said the valuation “reflects much of the near-term optimism and is 7% above its year-end 2006 fair value, even though it’s still encouraged by emerging opportunities, such as Intel-based Macs, iPod shuffle refresh and the emergence of iPod as a media platform.” Read More