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AAPL shares close up 8 percent

Robert Palmer

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.]

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