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Apple (AAPL) Nears $700, FBN Ups Target to $1,000

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Apple (AAPL) Nears $700, FBN Ups Target to $1,000 Powered By Docstoc
					Robert DeFrancesco’s
TechStockProspector.com
September 14, 2012


Apple (AAPL) Nears $700; FBN Boosts Target to $1,000
NOW AVAILABLE: The September 2012 issue of Tech-Stock Prospector is available
for the Amazon Kindle or Kindle for iPad/iPhone reading app.

Here are some of the topics covered in the September 2012 issue:

*Google & Facebook seek growth in mobile
*Bazaarvoice captures the social chatter
*Ciena bets on ramping bandwidth demand
*Electronic Arts pivots for a turnaround
*Akamai Technologies holds a secret growth weapon
*Figuring out a realistic valuation for Yahoo
*Zillow attracts a record number of Web & mobile users
*Cisco Systems battles to stay relevant to investors
*Behind the sharp rebound in Aruba Networks shares
*Salesforce.com builds up its new Marketing Cloud
*Why some big investors like Jive Software
*ExactTarget delivers the right message
*Intel trims guidance on weak PC demand
*Fusion-IO offers bullish fiscal 2013 revenue outlook
*Deal Report: The next big enterprise tech IPO

Order the September 2012 issue here: http://www.amzn.com/B004T6Z0ME

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Apple (AAPL, $691.28) shares today managed to hit a new high at
$696.98, propelled by strong pre-sales of the iPhone 5. The handset
launches at retail a week from today.

Some analysts think Apple will be able to sell 8 million to 10 million iPhone 5s by
the end of the September quarter. Many analysts are estimating at least 5 million
iPhone 5 units will be sold in this period.

FBN Securities raised its Apple price target to $1,000 from $800 because the firm
now estimates iPhone unit sales for the September quarter will reach 29 million, up
from its previous estimate of 24 million. For fiscal 2013, FBN looks for iPhone unit
sales to reach 174 million, up 16% from the previous forecast.
Apple trades at 13 times the fiscal 2013 (ending Sept.) consensus EPS estimate of
$52.81, below the expected growth rate of 19.5%. The consensus estimate for next
year has been trending up over the past few weeks; it stood at $52.50 in the middle
of August. The high estimate stands at $63.50.

For daily updates on the tech sector, follow Rob on Twitter: @TechStockRadar

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Read the latest issue of Tech-Stock Prospector on your Amazon Kindle or Kindle for
iPad/iPhone reading app.

Here’s the Kindle link: http://www.amzn.com/B004T6Z0ME

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Tech-Stock Prospector Managing Editor Rob DeFrancesco has more than 20
years of experience covering the tech sector. He is a former senior writer with
Louis Rukeyser’s Wall Street.

TechStockProspector.com, launched in 2003, is an investment-research service
focused primarily on the networking, storage, security, wireless and software
sectors. Annual subscription: $350.

For more information or to place an order, call 800-392-0998.

				
DOCUMENT INFO
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posted:9/14/2012
language:English
pages:2
Description: Apple shares approach the $700 level ahead of the launch of the iPhone 5