AAPL shares close up 8 percent
If you bought Apple at its lowest low yesterday, for just over a hundred bucks a share, you'd have made $13 per share back today. That doesn't cover your loss, of course, if you bought at its 52-week highs of just over $200 per share, but if you were a smart shopper yesterday, you got a heck of a deal.
Goldman Sachs analyst David Bailey said that the yesterday's price drop was "overdone" and reiterated his "buy" rating and $200 price target. Citi analyst Richard Gardner also recommended buying, but cut his price target to $170 per share.
"The recent sell off creates an opportunity as we think Apple will outperform our group through the end of the year, driven by iPhone unit upside and a strong product pipeline," said Bailey.
AAPL closed today at 113.71, up 8.45 points, or eight percent from its close yesterday.
[Via BusinessWeek.]
