“Is Apple stock heading back above $100 per share?” Richard Saintvilus asks for TheStreet.
“Shares are currently at $97, but they can rise above $100 if the company’s earnings are not as bad as feared, and if there is excitement about its coming iPhone models in the second half of the year,” Saintvilus reports. “TheStreet‘s Jim Cramer owns Apple for his Action Alerts PLUS charitable trust. In a recent note he and AAP Research Manager Jack Mohr said they are ‘cautiously optimistic that shares could re-rate higher in anticipation.'”
“Cramer has long said you own Apple, not trade it,” Saintvilus reports. “‘We are in the name for the long term, however, and do not intend to trade around short-term vicissitudes. We reiterate our $130 long-term price target,’ they wrote.”
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MacDailyNews Take: As always, Apple’s guidance will be the key.
Apple to release Q316 earnings, webcast live conference call on July 26th – June 28, 2016