AJ, Washington DC

Apple Slowdown, Macro Weakness - Morgan Keegan

McCourt's taking the broader market view, and although I am an Apple long, I welcome the stock taking a breather and dropping a few points - Apple is widely expected to meet or exceed street expectations this quarter, so there's a lot of upside to look forward to. I assume McCourt is looking ahead at the 3rd and 4th quarters when the macro conditions will really be felt. Apple will probably fill their product channel with all sort of irresistible (to folks with strong currencies, that is) goodies, and make up for weak lower markets. State and Muncipal budgets may be squeezed, and they may go for the cheaper computers, but the college market is likely to hold up well. Hoping that AAPL will hold in the $150-175 range for the next few months, until the macro-economic situation improves.