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Wednesday, August 1, 2007

Apple a day ...

The Apple ITunes store celebrated a lofty 3 Billion song dowloads yesterday while the stock market slide took its toll on Apple shares.

I have been very interested in Apple as I believe it is the computer/tech stock of the century.

The MacBook Pro I am typing this on, combined with the ever-present Ipod units of which we own 5 as a family, are reason alone. The IPhone will take it to another level, especially when a second generation IPhone eases the curiosity level for cautious buyers who will wait out the price reductions or the hype to be sure a product is worth the overall investment.

Here is a report on Apple today, via CBS MarketWatch, noting that Citigroup upgraded Apple to buy from HOLD:

LONDON (MarketWatch) -- Citigroup upgraded Apple, Inc. (AAPL :
Apple Inc
News , chart , profile , more
Last: 132.17+0.41+0.31%
1:24pm 08/01/2007

AAPL 132.17, +0.41, +0.3% to buy from hold, citing Tuesday's 7% pullback in the shares. The broker left its price target unchanged at $160. It said that iPhone and iPod production cuts rumored in Asia should not be a surprise to investors and reflect normal channel inventory clearance ahead of new product introductions in August and September. More specifically, Citigroup said it expects higher-capacity iPod Shuffles and Nanos at lower prices for the memory size provided as well as a video iPod with an iPhone-like 3.5 inches diagonal screen and touch-screen controls. The broker added that while iPod margins will decline as a result of these refreshes, it believes this is fully reflected in its current estimates and consensus forecasts for the second half of the calendar year.

End of Story

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