ABN Amro, a banking group ranked sixth in Europe and seventeenth in the world, has started covering Apple stock with an “add” rating and a 12-month, US$25 price target by analyst Robert Cihra. The company was quoted as telling clients, “we think Apple’s valuation is attractive and the company has some latitude since it controls its own product cycles.” Incidentally, the banking firm cut Dell’s share estimates for the third and fourth quarters by one cent. CBS Marketwatch has more.
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July 13, 2001