Apple was the number one recommended stock by Ticonderoga Securities in 2011. Now, at the beginning of 2012, it holds the same title once again.
Analyst Brian White said in a note to investors on Tuesday that he is comfortable once again recommending AAPL stock to investors at the start of the new year. He noted that Apple was the best performer in the 20 companies covered by Ticonderoga, seeing growth of 26 percent.
“We believe Apple’s portfolio in 2012 has the opportunity to create more excitement around the story with our expectation for the unveiling of iTV, a “iPad mini” and a major upgrade with the iPhone 5, while we expect the company to finally come to grips with its surging cash balance and issue its first cash dividend,” White wrote.
White is a long time advocate of Apple issuing a cash dividend or stock repurchase from its huge pile of cash. So far, Apple has shown no interest in his advice. Apple executives are content to hold on to the cash hoard to enable taking advantage of “strategic opportunities”.
White says Apple is a solid choice for investors following a “tough 2011”. He notes that Apple has proven to have more resilience than other tech companies in the face of the current recession.
Gene Munster of Piper Jaffray joined in, saying he also sees Apple poised for growth in the next year, seeing a redesigned “iPhone 5,” a third-generation iPad and a full-fledged Apple television as potential products in a strong 2012.