Needham upgrades Apple to ‘strong buy,’ raises price target to $225

“Ahead of an event that is expected to launch both the Apple News subscription and video streaming offering on March 25, Apple is being considered an extremely valuable company by Needham,” Malcolm Owen reports for AppleInsider. “Analysts for the firm have raised its price target for the company from $180 to $225, at the same time as upgrading the rating, with the new target representing a 20-percent increase of the $188.16 per share price hit at Wednesday’s market closure.”
“The potential for Apple’s growth stems from its Services and other non-iPhone areas, the firm told investors on Thursday,” Owen reports. “‘We anticipate better than previously expected results from both Services and Wearables, Home and Accessories, as well as valuation upside created by falling churn and strong barriers to entry” for competitors, wrote analyst Laura Martin.”
Owen reports, “Needham suggests the video streaming project, which is thought will offer iOS device users access to original programming, will ‘drive higher lifetime value’ for 900 million users.”
Read more in the full article here.
MacDailyNews Take: Ahh, the ebbs and flows.
AAPL is like a buoy. Quick, it’s back on the surface! You there, analyst, and you, too, swim down and tug on the chain! Drag it under… lower, lower… Good! Now, quick, everybody jump on, and we’ll take a ride back up to the top again! — MacDailyNews, January 9, 2012