Apple’s iPad Is a “Game Changer,” Najarian Says; But What About the Stock?

Posted: April 9, 2010 in Uncategorized

 

This is the New Day and I want to say thank you to all. This is Marc Turner and I wanted to make sure that I keep you all upto date on Articles that I find good and Crazy- Read more below on the Apple iPAD

Apple says more than 300,000 iPads were sold on the first day and that more than a million apps were downloaded. “This is going to be a game changer,” says our guest Jon Najarian, co-founder of tradeMONSTER.com.

While critics (otherwise known as evil non-believers) charge the iPad so far doesn’t appear as influential as the iPhone, Najarian says the basic $499 model is just the beginning. Najarian says Apple is hoping additional revenue growth will come from its 3G version, that will be priced between $629 and $829. 

But what about the stock? With Apple exceeding $230/share, bullish stock watchers including those at Morgan Stanley see the stock surpassing $300/share, and Apple selling 10 million iPad units during the 2010 calendar year, well above forecasts.

Others wonder if there’s much upside left. “The stock is going to give you reasonable performance but not outperformance,” Najarian tells Aaron in the accompanying clip. Najarian is looking for $265/share for Apple this year. 

In fact, peripheral plays are likely to perform better near-term than Apple, says Najarian, also a CNBC Fast Money contributor. Examples include chip makers Cirrus Logic (CRUS) and Broadcom (BRCM), and retailer Best Buy (BBY).

Click on the player to get Najarian’s take on the tech space and here to compare his views on the sector from February.

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