| Sanford C. Bernstein & Co.’s A.M. (Toni) Sacconaghi, a member of the All-America Research Team Hall of Fame, claims the pole position for an 11th consecutive year. “Toni takes a long-term structural view of his stocks,” says one buy-sider, and thus rarely changes his ratings. But he did so with Apple four years ago and has held tight since. The 47-year-old researcher urged investors to buy Apple in October 2008, at $96.39, based on the Cupertino, California–based company’s long-term growth potential. He has since consistently reminded clients of the shares’ appeal. The stock had catapulted nearly 600 percent, to $665.24, by the end of August 2012 — soaring 73.6 percent in the past 12 months alone. Sacconaghi “has done more work on Apple than any other analyst on the Street,” notes another loyalist. Looking ahead, the researcher believes that Apple and EMC Corp. are the sector’s most attractive long-term stocks; and in the next nine to 12 months, Apple and Hewlett-Packard Co. offer the most opportunity for upside. |
Technology, Media & Telecommunications – IT Hardware: First
October 16, 2012
