Investing
Key Technology Analyst Upgrades on Valuation (AAPL, ARMH, INTC, RIMM)
Published:
There have been some interesting upgrades in technology stocks this morning. It wasn’t so much a goal of analysts trying to mark the bottom on yesterday’s sell-off, but these appear to be on valuation.
- Apple Inc. (NASDAQ: AAPL) was raised to Buy from Hold over at Gabelli after the recent sell-off looks excessive. Shares are up over 3% at $108.90, but we’d note that shares were down almost $23.00 yesterday.
- ARM Holdings (NASDAQ: ARMH), the British communications chip company, was raised to Buy from Neutral at Goldman Sachs. Shares are up over 2% at $5.26, although this one is fairly thin trading volume.
- Intel Corporation (NASDAQ: INTC) is up 4% on a call out of Piper Jaffray. The firm raised its Neutral rating to a Buy rating with a $22.00 price target.
- Research in Motion (NASDAQ: RIMM) is up over 4% at $64.50 after JMP Securities took its Market Perform rating up to an Outperform rating.
Jon C. Ogg
September 30, 2008
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