Goldman Sachs upgrades U.S. tech hardware sector; ups Apple price target
Friday, July 10, 2009 - 09:23 AM EST"Goldman Sachs raised the U.S. hardware sector to 'attractive' from 'neutral,' on expectations of a potential upside in the stocks and the sector to outperform in the seasonally stronger second half of 2009," Manasi Phadke reports for Reuters.
"'A return to normal seasonal trends in tech should serve as the first catalyst in the back half of the year, followed by increased IT spending and a corporate upgrade cycle in 2010,' analysts led by David Bailey wrote in a note dated July 9," Phadke reports. "The analysts expect a 35 percent to 50 percent upside potential in hardware companies' shares."
"Bailey upgraded Dell Inc. to 'conviction buy' from 'neutral,' and called the world's second largest maker of personal computers his top pick, expecting an aging installed base and the rollout of Microsoft Corp's new Windows 7 operating system to drive a corporate PC upgrade cycle in 2010," Phadke reports.
MacDailyNews Take: You really have to warp the definition of "new" in order to apply it to an Earl Scheib'ed Vista.
Phadke continues, "He also raised his price target on Apple Inc's stock to $160 from $145."
Full article here.
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Tech is up because people are staying at home and trying to save money.
I'm guessing online sales have increased a lot, but records are not kept for that so we won't know.
Online companies like Amazon, eBay etc should see some upside.