Goldman Sachs added Apple to its Americas Conviction Buy List, saying shares will likely benefit from the launch of the company's third-generation iPhone next month, as well as from the sharply higher projections of iPhone sales for the second-half of the year.
Analyst David Bailey also raised his target on the stock to $220 from $185, and said Apple should be able to increase its available iPhone subscriber base by more than 80 percent this year due to aggressive expansion into international markets.
Jon Najarian also likes Apple ahead of the release of the new iPhone, but says to get out of it on the eve of the release. In other words get out as the 3g iPhone anticipation reaches fever pitch.
There’s a developers conference on June 9th and Apple should reveal the release date at that time.
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Trader disclosure: On May 23, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (HAS), (MSFT), (INTC), (WMT); Jon Najarian Owns (AAPL), (AMR), (BHI), (BUD), (DELL), (FTO), (VLO), (OII), (CPX); Jon Najarian Is Short (LEH); Seymour Owns (AAPL), (F), (INTC), (MER), (MSFT), (TSO); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE)