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The big change of pace for Apple Stock today following its earnings report usually in the past four earnings reports Apple Stock is sold off -- today.
Total opposite here take a look up five and three quarters percent.
Apple sold -- more iphones than it expected to and the stock lobs it.
Right now as we set up about five and three quarters percent as the biggest jump since November so is now the time on it.
Did you miss the bottom.
Does that even matter joining us now from Minneapolis is Piper Jaffray managing director and senior research analyst at eighteen months that -- everybody's asking that question did I miss the bottom of this stock you've got -- Really positive rating on this you expect a pretty significant price target the next twelve months talk about that and whether people missed the bottom.
-- -- probably have missed the bottom in reason is that the price cycle gets.
So fast and so -- over the next six -- he's yet to -- one anticipation that.
But there's still a lot of room to go on the stock and we have a 65512.
Month -- -- it's a were very optimistic about this and it's because of the product so I think.
The bad news is is that the bottoms probably in place.
The good and you've missed the bottom but the good news is there's still seems to be a lot of room laughed and I think that the June quarter.
Really give a lot of comfort that the fundamentals of the business are still doing just fine.
They had people yesterday from all over the place asking whether Apple Stock has sort of become a commodity I felt that stunning and ridiculous to even ask because.
They are still innovators but they're more.
Not necessarily revolutionary in their products but -- -- with the iPhone 345.
IPad 23 mini it's -- -- so what's going to be the next.
Product that somebody who's watching right now says okay that does it in anticipation of that and what -- tells me here I will buy the stock.
It's probably two things that the biggest -- we believe is this television and this -- been much talked about -- the the size of the market is debatable and then of the day is that we think that this is gonna be some do more people are really going to be surprised and feel like that's gonna make their lives better just like that iPhone -- It's not as big of a market as the phone market so it's not gonna have as big of an impact on the financials.
But if you're asking the question this apple innovate anymore I think that that's going to be in part answered with this television.
And the separately in this to a lesser extent -- to see apple do more wearable technology.
Google has Google glass apples talked about this watch -- admit -- made references about this watch and so.
I think that you know that may not be -- game changes a television that still fits in the category of doing something beyond just the iPhone and the iPad.
Yeah I know -- I -- I still know who's going to Wear a clunky watch but then again.
People weren't quite sure who would be dragging around something as big as a tablet on a on a regular basis.
Let's talk about the iPad so quickly they disappointed by about 14% this -- those numbers on the iPad.
What's going on to -- iPad -- not excite people as much as the previous iPad generations.
Bush is a little bit ugly iPad numbers are ugly and ultimately the replacement cycle on ipads tend to be a little bit longer or just starting to figure all of this out.
This is like a phone which is typically just over two years and so I think that's part of this -- into it.
And second isn't it is a price sensitive market and when you have an AS an average selling price in the four hundreds.
A lot of people can't afford that and so ultimately I think apple needs to try to figure out what that balances between high margin.
And ultimately lower prices are really spike.
Demand change before you go what other stock out -- do you have an overweight on that you really like right now.
You know -- -- -- company in China has seen.
Which is a basically they have the social side in the light of the FaceBook greenside sure that's one that's been generally under appreciated but if you're looking for kind of a long term play on.
Some -- Internet -- the social aspects that's a good one a look at.
Right right now Sina is at 63 dollar 69 cents the the -- the year's been seventy dollars so there's still an opportunity here chain it's lovely to have you thank you for joining us.
Thank you he has the right call at the moment because the stock has jumped at the -- price target of 655.
Dollars for twelve months we'll see if -- is right.
Gene Munster is senior analyst at Piper Jaffray from more.
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