Analyst Puts Shine on Apple Shares

Martin, Scott
October 2008
Red Herring;10/29/2008, p4
Trade Publication
The article reports on the rise in shares of Apple to $6.99, or 7 percent, to $106.99 in midday trading. In a report, Sanford Bernstein analyst Toni Sacconaghi said they believe a share repurchase represents the best use of at least part of Apple's ∼$25 billion in cash, and adds that it would be more favorable to shareholders than the alternatives of either a major acquisition or a substantial dividend. It is reported that Apple beat earnings estimates on strong sales of iPhones, Macs, and iPods.


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