Key Technology Analyst Upgrades on Valuation (AAPL, ARMH, INTC, RIMM)

Posted: September 30, 2008 at 8:44 am

There have been some interesting upgrades in technology stocks this morning.  It wasn’t so much a goal of analysts trying to mark the bottom on yesterday’s sell-off, but these appear to be on valuation.

  • Apple Inc. (NASDAQ: AAPL) was raised to Buy from Hold over at Gabelli after the recent sell-off looks excessive.  Shares are up over 3% at $108.90, but we’d note that shares were down almost $23.00 yesterday.
  • ARM Holdings (NASDAQ: ARMH), the British communications chip company, was raised to Buy from Neutral at Goldman Sachs.  Shares are up over 2% at $5.26, although this one is fairly thin trading volume.
  • Intel Corporation (NASDAQ: INTC) is up 4% on a call out of Piper Jaffray.  The firm raised its Neutral rating to a Buy rating with a $22.00 price target.
  • Research in Motion (NASDAQ: RIMM) is up over 4% at $64.50 after JMP Securities took its Market Perform rating up to an Outperform rating.

Jon C. Ogg
September 30, 2008

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