“Apple’s iPhone 5s is selling well and that’s good news for its stock,” Chris Ciaccia reports for TheStreet. “Like anyone didn’t already know that ;).”
“Canaccord Genuity analyst Michael Walkley boosted his target price to $600 from $580, based on ‘very strong iPhone 5s sales with improved levels of supply for all color SKUs,’ according to a research note on Thursday,” Ciaccia reports. “Walkley also noted that that the imminent iPhone launch with China Mobile could boost March ‘iPhone sales and offset some of the anticipated sharp decline in iPhone sales post the holiday selling season.'”
“As a result, Walkley boosted his earnings estimates to $48.78 and $50.02 in 2014 and 2015, respectively. He expects Apple to generate $187 billion in revenue next year and $201.4 billion in 2015,” Ciaccia reports. “Analysts surveyed by Thomson Reuters are looking for Apple to earn $43.55 and $47.68 on revenue estimates of $184.1 billion and $196.01 billion in fiscal 2014 and 2015.”
Read more in the full article here.
Related article:
Canaccord: Apple’s iPhone 5s ‘by far the top selling smartphone’ in the U.S. for 3rd straight month – December 12, 2013
What a joke !
Weren’t they disappointed with the expensive 5s and the expected cheap but not cheap 5c ?
Why upgrade ?
A $20 move? That’s going out on a limb.
BWAHAHAHA! Yeah, good one.
So, based on “very strong iPhone 5s sales” and a significant jump in overall prospects, Walkley boosted his target price a whole 3.5%!
Gee, Mr Walkley, don’t get so excited!
Sheesh…
This is what very strong sales gets Apple shareholders? I swear to the heavens that Wall Street has no faith in Tim Cook or Apple. $600 with China Mobile baked in? Apple stock is completely retarded. I’ve seen dozens of articles about Apple products leading in sales and this is what comes of it. It’s like the company’s value is going in reverse. I reiterate, Apple is no Google or Amazon when it comes to getting shareholder value. It’s a rather disappointing situation.
Troll hell today at MDN.