“Cantor Fitzgerald initiated coverage on Apple (NASDAQ: AAPL) with a Buy rating and a price target of $777.00,” StreetInsider reports.
“Analyst Brian White thinks the stock is poised to rally ahead of its new product cycle,” StreetInsider reports. “Brian White was formerly with Topeka and at one point had an $1,111 price target on Apple.”
StreetInsider reports, “‘We believe the stock is in the midst of a recovery. In our view, Apple is on the verge of an extended product cycle that we believe will include a refresh of existing products, increased penetration within existing device categories and entirely new market opportunities,’ said White.”
Read more in the full article here.
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They had me until I saw the stupid 1,111 prediction.
This is the 3rd time AAPL stock got cut in half on me. The first was in 2000. Try overlaying the percent growth up after the pounding. Also, Apple has outlived all the prior heavy weights (Dell, HP, Blackberry, Nokia, Motorola, now Microsoft is tanking). Everything is shifting now. After the iPhone upgrade is offered to the HUGE number of China Mobile customers next week, the question will be, can Apple make them fast enough and what will the halo be like in China?
Then, what will the target price for AAPL be?
JT . . . do you remember the article a month or two back saying that Foxconn was looking to hire an additional 90,000 workers in the near future? If (when?) China mobile adoption is truly just a week away, Apple will absolutely NEED those people to produce the massive number of devices they’ll buy!
Here’s to the 5C and the future of AAPL!
You’d be smart not to get carried away by what some of these idiots say. They’re pulling those numbers out of their butt-holes as those high target share prices have no place in the real world.
I’m all for bulls but this is bull.
Any chance, Jay Jay, that you and “birdy” will post your REAL names and cell phone numbers here so we can praise your prognostications (OR laugh uncontrollably at them) in the next 12 months?
If you’re proud, say it loud. Stand up for–and behind–your predictions! What do you have to lose?
And your phone number is……..?
I can see $777 is based purely on today’s fundamentals & revenue, with just warming confidence about the future.
If new product categories in tge next 12 months end up radically change Apple the way the iPod, iPhone & iPad have, why not $1000 ?
Apple is and has been for years, by fundumentals, a $1000 stock. (Period).
It will go above that easiliy.
I can see Apple making a lot more money, but I don’t see the share price following. These dreams of a $700, $800 or $1000 stock seem to be unfounded. Apple is currently barely holding $500 and it’s just hard to imagine that many investors are going to put that much money into Apple to move it to those far figures. We’ve already been burned once by the hedge funds so it seems unlikely to happen again so soon.
Investors did have some mild affection for Steve Jobs’ genius, but investors hate Tim Cook. They think he doesn’t even know how to run the company properly and they don’t believe the company has any more innovation left without Steve Jobs. If fundamentals can’t boost the share price, then what will? Belief in Apple’s future? Unlikely. Apple no longer has anyone generating a Reality Distortion Field. Apple currently SHOULD have a much higher share price, but as you can see, it doesn’t. The stock seems to be completely cursed by investors.