“Apple announced on Monday that iPhone 5 pre-order sales shattered previous records and AT&T also reported stellar iPhone numbers,” Chris Ciaccia reports for TheStreet. “With all of this, and the stock surpassing $700, a number of analysts believe there’s at least 20% upside ahead.”
“Merrill Lynch analyst Scott Craig raised his price target from $770 to $850, citing more than 20% upside from current levels, with a faster-than-expected iPhone 5 rollout prompting him to raise his earnings estimates,” Ciaccia reports. “‘Our new EPS estimates are meaningfully above Street, with potentially another ~5% upside to our above consensus $56 EPS estimate for F2013 if Apple’s gross margin were to progress similar to the iPhone 4S cycle,’ Craig wrote in his research note. He rates Apple shares ‘buy.'”
Ciaccia reports, “Apple has said that the iPhone 5 will be available in 100 countries, including China, by the end of the year. This is a testament to the job CEO Tim Cook’s doing. The Apple chief may not be the product visionary his predecessor Steve Jobs was, but he’s undoubtedly an operations genius.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]
The media doesn’t want to cut Tim any slack yet do they? Figure he is still riding Steve Job’s coattails. Guess we’ll have to wait until something totally new comes out but even then they’ll say “oh Steve Jobs had already figured that out.” Probably take another couple years before Mr. Cook is completely out of the circumspect woods. But if Cook proves to everyone beyond a shadow of a doubt the stock should really climb then.
Tim Cook was Steve Job’s hand picked choice to succed him.
Steve Jobs didn’t make many mistakes as regards to quality and value.
And then there’s Eric T. Mole, the scumbag a**hole from Googleland . . . whom Steve personally selected to be part of the Board of Directors. We ALL make mistakes in judgment, even Steve, and Apple is still paying the price for this error.
Agreed. The biggest mistake Steve Jobs made was trusting that dude and he took a nice, healthy knife in the back for his naivety. The main thing that pisses me off is that Wall Street believes that Android is going to destroy Apple long-term and therefore doesn’t value Apple the way it should be valued. Otherwise, why the heck is Google’s share price higher than Apple’s? There’s no reason based on company fundamentals to support Google’s higher share price. Apple’s median price target is $15 higher than Google’s and if it wasn’t for that idiot Zabitsky’s PT of $270, Apple’s median would be even higher. Apple is making a killing on iPhone sales yet Google’s share price is moving up faster.
Even if Android didn’t exist, it isn’t likely that Apple would have been able to produce hundreds of millions of iPhones to take Android’s place. Android OS basically destroyed Symbian, RIMOS, WebOS, etc. and those other OSes probably would have been around if Android wasn’t.
Yes….except the mole from Goog!!
No… The stock price won’t hit US$800.
Something’s gonna happen, I dunno what, that’ll drive the price down…
Keep your eyes open.
It will hit $800 on April 10, 2013.
Gawd, but I DO love certitude on the web, especially when it emanates from anonymous posters with absolutely no credentials, no track record of financial advice, and no pathway to confirm results at a future date. All hail non-accountability, huh, chinny?
How can one argue with someone using “dunno” and “gonna” in the same sentence? We just “gotta” keep our eyes open now!