Mp3, Music & Magazine


Wednesday, February 15, 2006
Creative Tech Faces Stiffer MP3 Competition From Apple : Standard & Poor's Equity Research analyst Megan Graham-Hackett downgraded shares of digital entertainment company Creative Technology to "sell" from "hold" citing increased competition from Apple Computer in the MP3 player market.

The analyst sees Creative Technology (nasdaq: CREAF - news - people ) facing a "challenging" March quarter due to Apple's product introductions in the lower-end MP3 market. She said Apple (nasdaq: AAPL - news - people ) has broadened its MP3 product portfolio, "thereby increasing the competitive dynamics, in our opinion."

Graham-Hackett lowered the price target on Creative Technology to $7 from $8, based on revised price-to-sales analysis. The analyst also cited seasonality as a potential drag on Creative Technology's quarter. S&P Equity Research maintained a "hold" rating on Apple.
posted by NaxeruL @ 9:26 AM  
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