An analyst looks at Apple as an investment opportunity today and likes what he sees
So writes Ticonderoga's Brian White in a note to clients issued Monday, the day before Apple's (AAPL) Oct. 4 iPhone event.
White has taken a look at the performance of Apple shares over the past two weeks and come to the same conclusion Bullish Cross' Andy Zaky did last Friday: Rather than buying on the rumor and selling on the news, as they did the last four iPhone launches, investors seem poised to do the opposite. (See Apple trading in advance of the iPhone 5 breaks the mold.)
Among White's reasons for owning Apple now:
White's price target of $666 a share is the highest on Wall Street. It is based, he says, "on nearly 20x our interest expense/income adjusted CY11 pro forma EPS estimate plus net cash per share of $81.21. Essentially, this equates to a straight P/E of 22.3x our CY11 EPS estimate and is below the 26x multiple over the last six years."
Analysts predict that at least 2 million AT&T subscribers over the next year will switch carriers now that the Verizon iPhone is available. Here's how the companies transfer a customer's phone number from one device to another.
1. An AT&T (T) customer walks into a Verizon Wireless store to switch to Verizon's iPhone -- but wants to keep his current phone number. He provides the number and personal identification.
2. Verizon (VZ) MOREJessica Shambora, Writer-Reporter - Feb 22, 2011 5:00 AM ET
Once again, the Wall Street Journal starts the rumor mill spinning
[UPDATE: The Journal's story changed in important ways overnight. See WSJ Verizon iPhone rumor -- Round 2.]
In a brief report posted Wednesday, the Wall Street Journal revisited a rumor its reporters have been pursuing -- and perpetuating -- for more than six months.
In March, Yukari Iwatani Kane and Ting-I Tsai sent Apple shares soaring with a report that hinted but MOREPhilip Elmer-DeWitt - Oct 6, 2010 3:05 PM ET
If you buy the rumors that Apple is building a phone for Verizon, January 2011 makes sense
Here's how Daring Fireball's John Gruber sees events unfolding:
The device code named N92 (the iPhone 4 was N90), now in being tested in-house by Apple (AAPL) engineers according to Gruber's sources, reaches device verification test (DVT) level this fall, which is when the secret prototypes go out for field testing. (See Gizmodo here.)
Apple unveils MORE
According to a report today, Samsung's Galaxy S Android phone (with essentially an iPad processor) will be available in 110 countries. That's blows away Google's current tally of 48 countries.
The Korea Times reports that the Samsung's Galaxy S Android phone will launch in an incredible 110 countries. They also report that "the best smartphone that Samsung has made so far" will released "over the world at the same time."
At MORESeth Weintraub - Jun 1, 2010 4:46 PM ET
Vodafone will sell the iconic 'Google phone' for free with a £35 ($54)/month service plan starting on April 30th.
Android fans in the UK will now be able to get their hands on a flagship Android phone at the end of this month, according to a press release by Vodafone. Plans start at £25 per month and contract terms vary from 18- to 24-months.
The phone is likely identical hardware MORESeth Weintraub - Apr 26, 2010 12:20 PM ET
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