Apple Shares Up Ahead Of iPhone SDK Event

Apple (AAPL) shares are higher Thursday following yesterday’s talk by COO Tim Cook at the Goldman Sachs technology conference, and ahead of next week’s iPhone Software Roadmap event next Thursday. Both of those things are basically Wednesday’s news at this point, but I did want to mention a few tidbits from the Street on both topics.

• Goldman Sachs analyst David Bailey, who conducted the interview with Tim Cook yesterday, wrote a note late yesterday summarizing the interview. You can read my post from yesterday for the details; Bailey’s conclusion was that “there was no breaking news on the financial side,” but that the meeting “reinforces our view that Apple’s leading industry product cycles should help it overcome softer seasonality and sets the stock up for a strong second half.” He keeps his Buy rating on the stock.
• UBS’ Ben Reitzes writes today that next week’s event could help address issues that are limiting the adoption of the iPhone in the enterprise, in particular compatibility with Microsoft (MSFT) Exchange. He also notes that 3G iPhones could be introduced by mid-year, a comment he has made in the past. He also repeated his Buy rating.
• Shaw Wu, of American Technology Research, thinks the company will offer improved connectivity to both Exchange and IBM’s (IBM) Lotus Notes. That, he says “will prove key in having more enterprises” and small businesses adopt the iPhone. “We do not think it will be easy to replicate the robustness of Blackberry push e-mail, but nonetheless, we view improvements as positive.” He also expects improved security, better support for VPNs and support for enterprise applications such as CRM. Wu also writes that he thinks the company will hit its target of 10 million iPhones in calendar 2008. Wu repeated his Buy rating and $175 price target.

Meanwhile, all of you who have been following the recent Apple posts on this blog might enjoy the video discussion today between Henry Blodget and Aaron Task about my coverage on Yahoo Tech Ticker. Thanks, guys!

Apple Thursday closed up $6.95, or 5.6%, to $129.91.

Comments

[User 25600:]

Hey Eric - Can't you get Toni to explain her opinion regarding the "missing iPhones", now that the COO of AAPl has spoken - Does she want to dispute his facts??? - She sure sounded like she knew what she was saying - Any comment from you, since your articles fueled the miss information ?????

2008 Feb 28 06:23 PM

[Jon T:]

So when do we get the apologies for all the mistaken doomsaying?

You pundits are sure going to be made to eat crow pie... and the point about passionate Apple shareholders is that so far you commentators continue to peddle your snake oil and other garbage and ignore all the sensible inputs you receive. THAT is why some people resort to calling you names...

2008 Feb 29 02:45 AM

[fAT:]

Now, J T, who's calmer? The bulls or the bears?
a rally doesn't make for a market, in case you haven't been watching the financial news lately.

Apple should have held up today. It didn't. so hmpghh

2008 Feb 29 05:55 PM

[fAT:]

Apple shares down ahead of accounting irregularities

2008 Feb 29 06:35 PM

[John Scott:]

AAPL is up 49% in the last 12 months and 83% in the last 18 Months. Both the Nasdaq and S&P 500 are down about 5% in the last twelve months.

Eric, thanks for writing a note about Apple without quoting Toni Sacconaghi; he has been so wrong for so long with regard to Apple.

2008 Mar 01 05:16 PM