Apple [AAPL] downgraded to Equal Weight, from Trip Chowdhry, Global Equities Research with a new $130 price target. “Our research indicates that upside to Apple’s iPhone is somewhat muted…Apple’s iPhone is suffering from significant strategic and tactical missteps and Apple is probably unlikely to achieve the stated 10 million unit goal by the end of 2008.”
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I’d give Jobs, the benefit of the doubt here, without jumping the gun into any conclusions yet. So far, under his brilliance, company has performed extremely well by saturating shareholders with awesome pps levels. Let see how this thing will evolve from here. Regardless of stock ' slide of $3 into today's opening session, fundamentally company remains on solid grounds. Patience is a virtue.
ron
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