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Skyrocket In Flight (7/8/99)
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Holy cats, what was that we said yesterday about Apple stock being a dramatic roller coaster ride? If you thought AAPL's recent rise from a rumor-driven trough of $42 back to a year-high of over $50 was exciting, what happened next probably had you reaching for the heart pills. See, the analysts are all climbing on board the Apple Train; the most recent financial wizards to see the light are BancBoston Robertson Stephens, who issued a press release early in the day announcing their upgrade of AAPL from "Long-Term Attractive" to "Buy." (Thanks once again to the inscrutable Eg'z for being the first to tip us off.)
BancBoston's Alex X. Mou explained the upgrade by pointing to all the nifty things in store to come out of Cupertino in the next twelve months-- notably "Sonata in the fall and Mac OS X early next year." And while he didn't refer to the P1 consumer portable directly, we think the implication was there when he referred to Apple's "strong product lineup" leaving them "well positioned for the September quarter." Because of all of these factors and more, not only did BancBoston raise AAPL to a "Buy," but they also significantly raised their estimates of Apple's earnings for both this year and next, and set a twelve-month target of the stock at $75. Wall Street responded predictably, sending Apple stock skyrocketing to a new six-year high of over $55. Investors who bought in when AAPL was hovering around $12 in December of 1997 are lining up to have the phrase "I TOLD YOU SO" tattooed on their foreheads in bright green.
Remember, even if you don't own any Apple stock (we at AtAT sure don't), everyone who owns a Mac has a personal interest in seeing Apple succeed financially so the company has the resources they need to keep cranking out insanely great products. In that vein, don't forget to enter our quarterly Beat The Analysts contest by guessing what Apple's end-of-quarter financial results will be when they're announced next Wednesday; if your entry is closest to the real deal, you get your very own copy of Microshaft Winblows '98, the instant fame and celebrity of seeing your name in lights (or at least an <H2></H2> tag) on AtAT, and the smug satisfaction of being right while everyone else is wrong, wrong, wrong. Sign up now!
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SceneLink (1648)
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And Now For A Word From Our Sponsors |
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 | | The above scene was taken from the 7/8/99 episode: July 8, 1999: Another analyst waves the Apple flag, and Wall Street reacts appropriately. Meanwhile, the latest PowerBooks seem to have a certain likelihood of developing foot trouble, and details about the P1 (real or manufactured) are leaking at an increasing rate...
Other scenes from that episode: 1649: Calling Dr. Scholl (7/8/99) Man, nothing puts a damper on an otherwise fun weekend like foot trouble. Even temporary pain or discomfort can be a sobering nuisance; for instance, last Sunday we stood around for a couple of hours on the Harvard Bridge waiting for the fireworks to start, then stood throughout the display, walked to a local game room and played pinball until the crowds thinned, and finally walked to the subway and found our way home-- and when we finally got there, believe us when we say our dogs were barkin'... 1650: The Trail Grows Hot (7/8/99) There's less than two weeks left before Steve Jobs formally introduces Apple's "P1" consumer portable, so get your bets in now-- before you know it, we'll have the real answers, and the guessing games, sadly, will be over...
Or view the entire episode as originally broadcast... | |  |
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