Apple praise from Needham, Monness Crespit

Apple (AAPL +0.4%) shares are up a bit in the early going after a couple of positive notes from the Street.

Needham’s Charlie Wolf reiterates a Buy rating, writing that the surprising strength of iPhone 4S sales in Q1 challenges the conventional wisdom that Apple has to build a low-end phone to retain share in the smartphone market.

The 4S success proves "iPhone’s brand is so strong, a two-generation-old iPhone despite its premium price holds great appeal,” which “confirms Apple’s ongoing commitment to building the aspirational brand."

Analysts at Monness Crespit reiterate a Buy rating and raise their price target to $650 from $605, believing investors want to be long the name going into the debut of a larger-screen iPhone this year.

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Comments (14)
  • Andrew A
    , contributor
    Comments (330) | Send Message
    Where do analysts come up with these targets? I watched Apple go to $700.00 a share and all they did was raise their target when the stock price went up and lower it when if fell... I don't listen to people like that.
    When will you all realize that Stocks are politics and Companies are real?
    Apple is the best at what they do and their customer base is growing faster than a fairy tale beanstalk.
    $1000.00 per share by the end of 2015... and that could be low.
    14 May 2014, 11:56 AM Reply Like
  • william_j
    , contributor
    Comments (7) | Send Message
    Andrew I'm new (2 1/2 years) to doing my own investing. (Stocks). I've read and learned a lot on seeking alpha. I own shares of apple, bought in low 300's and kept adding when I can. I've read that Apple is cheap based on (if I remember correctly) P-E. Lower is better is how I take it. I'm trying to learn and understand the charts. Could you explain what to watch or look for that Apple will go to $1,000 per share. As a different example I watched a business news program and the commentator said MG (Canadian) MGA (US) was a table pounding buy. I took that advise and made over 150% in a short time. So the question would be on the two examples what does one watch for to see a stock increase so much?
    14 May 2014, 05:19 PM Reply Like
  • Budavar
    , contributor
    Comments (1411) | Send Message
    Congratulations to Charlie Wolf + the fellow analysts at Monness Crespit.


    Now we are getting some truth! Morningstar appears to list only the buy + overweights for AMZN. (Morningstar itself gives cash cascading AAPL a *** rating but money losing AMZN a ****). Morningstar lists 19 analysts .Apparently quite an incomplete, misleading list as all 19 have hold or higher ratings for AMZN.


    Now please pause + think for a moment:


    >>>AAPL with AMZN's insane 470+ PER would be worth $20,000;
    >>>AMZN with AAPL's and the Dow blue chips 14 to 16 PER would be worth $10. Yep, $10! Assuming of course, that the Q2 losses do NOT extend into the balance of the year.


    In all my 60+ years of investing I have never encountered such a topsy turvy upside down situation in the market. I can aver with certainty = they never last.


    Disclosure: On April 24 I widely disseminated including in this space my first switch recommendation of 2014:
    (Switch = sell one stock + use proceeds to buy 1 (or 2) others)


    >>>Sell AMZN, Buy AAPL.


    My price target pre-split $700+, $150 thereafter.


    Repeat. Think, now maybe longer than a moment. Think again. Act!


    14 May 2014, 12:05 PM Reply Like
  • bhanxx
    , contributor
    Comments (3) | Send Message
    kudos, sold 1 lot of AMZN @391 (missed top, doh) but comfy w that one; xfer $ into AAPL, see how that one plays out..
    14 May 2014, 12:32 PM Reply Like
  • pbanados
    , contributor
    Comments (571) | Send Message
    Obviously Charlie is not reading the deeply analytical articles of Blair.
    Neither do I (well, most of the time, sometimes I can refrain myself...)
    14 May 2014, 01:31 PM Reply Like
  • Value George
    , contributor
    Comments (287) | Send Message
    You are a better man than I, pbanados. I cannot resist visiting the Blair-fight. Is there, like, maybe a support group for this? :(
    14 May 2014, 03:54 PM Reply Like
  • owens7301
    , contributor
    Comments (145) | Send Message
    Pretty easy to stay long AAPL here while new product roll outs are coming. Patience is not a virtue for many on SA and the comments. Many are day traders and others just very short term profit takers. Apple has just been in China about 5-6 months, large screens for the Iphones are coming and the users want them big time, music continues to grow and make good money, Ahrens(head of retail) just settled into her new role and they announce a Beets deal, I watch and ITV are coming......TC says they just need to get it right rather than run to make sure they get it out before Samdung...etc. There is just so much going on positive that it gets boring to read the junk from the day traders and short term thinkers. Have a glass of wine and relax...listen to some ITunes(Classic Rock is great!..good old stuffj!) and get a better night's sleep. I am making good money on Apple and expect to make much more in the next 6-9 months....big time.
    14 May 2014, 02:13 PM Reply Like
  • DanoX
    , contributor
    Comments (3578) | Send Message
    iPhone 4s is still fourth best cell phone in the world after the 5, 5c, and the 5s.
    14 May 2014, 04:07 PM Reply Like
  • rroo
    , contributor
    Comments (210) | Send Message
    Madness: So many SA Commenters are looking for a fast buck.


    Examine Apple as a company, not as "up and down".


    Which public company would you like to own personally? Of course...Apple.


    That's all there is.
    14 May 2014, 06:23 PM Reply Like
    , contributor
    Comments (438) | Send Message
    New Products??


    Apple is an impressive company, but so was Blackberry. If you listened to the Blackberry investors who drank the cool-aid... in 2010....they sounded just like most Apple Sorry it's true.


    These companies are tied to a product life. Usually a few best.
    Maybe Apple can continue to come up with new products that consumers are willing to pay premium prices for, but if not.....???


    Amazon's low profit (50 cents on ever $10 of sales....amazing) is the reason...they will be here forever. Because Apple needs to sell its products at a premium, and phones are a commodity at $49....who knows what will happen then.


    I still like Apple.....but not drinking the cool-aid.
    My insight is worth what I charge for it (some say less, but I am now followed by a number of hedge funds)
    14 May 2014, 06:55 PM Reply Like
  • portatopia
    , contributor
    Comments (1538) | Send Message
    <<Amazon's low profit (50 cents on ever $10 of sales....amazing) is the reason...they will be here forever.>>


    This ought to be the most buzzard statement I've ever heard in the investment world. Please put down the Bezo cool-aid already.
    14 May 2014, 07:49 PM Reply Like
  • NWCats404
    , contributor
    Comments (349) | Send Message
    It's spelled Kool-Aid...and anyone who thinks Amazon is a better investment today than Apple, particularly BECAUSE of their slim profit margins, is drinking something stronger than Kool-Aid. Amazon has its own challenges on the horizon: Alibaba and financial issues are just a few noteworthy examples.
    15 May 2014, 03:16 PM Reply Like
  • inside man 55
    , contributor
    Comments (1641) | Send Message
    Doesn't Amazon ever have to turn a profit to justify their valuation? From what I know their gross and net margins are much lower than Walmart or Target. I think the market has had enough of Amazon growing without profit. Next correction I would not want to be long Amazon.
    16 May 2014, 05:04 PM Reply Like
  • viking vancouver
    , contributor
    Comments (122) | Send Message
    When Blackberry went into its dive it was because customers were moving quickly to Apple and Android (superior devices and platforms). Apple is at the top of the heap. Who in the market today offers a clearly and much superior offering? No one. Until a much better product/platform emerges Apple will continue to sell exceptionally well. The comparisons to Blackberry makes no sense.
    16 May 2014, 12:33 AM Reply Like
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