Deutsche Bank’s Sherri Scribner has initiated Apple coverage with a “Buy” recommendation and a $650 price target, “writing that there is “still the potential to surprise,” Tiernan Ray reports for Barron’s. “‘While our model does not currently include the benefit of a new product introduction, we believe Apple still has the ability to ‘surprise and delight’ its customers, therefore any new and successful product would provide upside to the company’s already above-market growth rates. With revenue growing faster than the market, despite the company’s large market cap, we believe shares should trade in line with market multiples,’ writes Scribner. ‘Trading below market multiples at 11x our FY-15E, we view shares as attractive.'”
Read more in the full article here.
Oh..has the 2014 ‘pump and dump’ season begun already? I guess it’s never too early to be completely obvious.
Apple has as much chance of hitting $650 as I have of raising Steve Jobs from the dead.
Is that you Jesus?
Phil Shitter.. Now why wouldn’t it surprise anyone to see you talk shit?
I guess this is why it’s down over $4 already today.
The stock would have been at $650 over 2 years ago if Tim Cook and management had come out with a 5 inch iPhone and made some smart acquisitions where investors could see revenue growth. Apple could have had a 50% market share in Smartphones but they allowed Android to copy them and address all price points and screen size. Just terrible management and now Apple is playing catch up.
@Peter Gittlin: Would you let a robbers coming to your house and take whatever they wanted?. If you could say yes then something wrong is going on with you.
Let’s pray to the almighty GOD for AAPL rally to $650 guys while the Dow is selling off big time.
I think $1100 by the end of 2016 is realistic.