Tag: needham

Needham & Company has upgraded Apple stock to “buy” from “hold” based on the strength of accelerating iPod sales, a possible rebound in Power Mac sales, and the fact that Apple is abandoning its long-standing strategy of confining its software to the Mac platform. Needham set a US$23 price target.

Needham & Company has downgraded Apple stock to “hold” from “buy,” saying it’s unlikely that the company will outperform until growth returns in the December quarter, even if Apple can gain market share. Needham cut its fiscal 2003 estimate to 22 cents a share from 40 cents.