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From iPods to iPhones to MacBooks, Apple uses its “think different” approach to reframe computing, communication, and more.
I am generally in favor of the recent cash-management activities. If Apple stays pinned at 450 or lower, it will save the company a ton of money. If Apple actually finds a home much higher than that where it belongs, it still provides a great deal of flexibility to do a lot of different things with all that cash. I will make a note about the recent $240 Apple stock target by a relatively unknown investor. I have never seen such poor analysis, masked as a numerical analysis in my investing tenure. Summary: Apple has high margins. I'm going to pretend that it doesn't. If Apple had significantly lower margins, they would be worth $250. Therefore they are worth $250. It has been a long time since Apple introduced new products. Some Apple "investors" are restless and bored and many of them are chasing some other bright shiny things now that Apple isn't as sexy. Long story short: I think the cash management should keep Apple pinned near $450. If the predicted pipeline begins to produce new products in Q3 and Q4 and beyond as promised by management, Apple will regain the "sexy" and we'll see it approach it's value sometime toward the beginning of 2014. I do think they will see some continued margin erosion on mature products, but that is priced in and then some. Apple Price Target: 650
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