An analyst takes his quarterly look at the company from both sides now
There are a lot of superlatives being thrown around this week as analysts position themselves for Apple’s (AAPL)‘s fiscal third quarter earnings report, scheduled for July 20.
In a note to clients issued Wednesday, Bernstein Research’s Toni Sacconaghi, not always the company’s greatest booster, called Apple “the most secularly attractive name in our coverage universe.”
Brian Marshall of Gleacher & Co. (GLCH), meanwhile, called it “the best technology company on the planet” as he raised his price target to $370 from $355 — nearly 50% above the stock’s current price.
Of course Marshall is a true Apple enthusiast, and he uses that “best technology company on the planet” line every chance he gets. But once a quarter he tries to balance his bullishness by channeling the bears in an instructive exercise he calls “What the bulls will point to … What the bears will point to.”
We’ve pasted the current edition below the fold:
Traders Wednesday seem to be favoring the bull case. Apple closed at $258.67, up $10.04 (4.04%), in mid-afternoon trading.
[Follow Philip Elmer-DeWitt on Twitter @philiped]