Tech Stock Analysis: Apple Shares a Buy at All-Time High, Google Issued Positive Rating
On Monday, global investors witnessed shares of Apple hit an all-time stock price high in trading history. The Nasdaq is in the green today and technology continues to drive the innovation behind the economic recovery. Analysts reviewed these tech companies today:
Apple Inc. (NASDAQ:AAPL): Goldman raises Apple from $520 to $550. December looked good at Apple as Goldman raised the quarter estimates for iPhone from 30.2 million to 31 million, earnings-per-share from $9.44 to $9.94, and revenues from $37 billion to $38.8 billion. Apple should move higher as users adopt new iPhones or choose to jump on the bandwagon with lower priced 3GS models. The firm expects Apple to refresh the product line mid 2012. Goldman rates Apple a Conviction Buy.
Google Inc. (NASDAQ:GOOG): Susquehanna says Google’s fourth quarter keyword pricing is moving down. Susquehanna thinks a slight downside might be the result of a downward trend in keyword pricing. Quarter-over-quarter, rates trended down 13 percent. Goldman rates Positive rated with $705 target.
Research In Motion Limited (NASDAQ:RIMM): UBS sees near term merger and acquisition unlikely for Research in Motion. UBS believes U.S. losses and weak quarter results make the company unattractive. The firm the company will need to stabilize to attract a buyer. UBS rates RIMM Neutral rated with $15.50 target.
Motorola, Inc. (NYSE:MMI): Morgan Stanley says pre-annoucement no impact on Motorola Mobility purchase. Google is seeking patent access and video technology, so Morgan Stanley sees no impact from the announcement.
SYNNEX Corp. (NYSE:SNX): Brean Murray adds SYNNEX to Near-Term Conviction Focus List. Brean Murray feels SYNNEX has superior ability in its core IT Distribution. Superior ability means higher growth and corresponding leverage for future operations. Brean Murray rates SYNNEX a Buy and target raised from $3 to $38.
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