“Apple Inc.’s 12-month price target was lifted to $127 a share from $115 by UBS analysts Steven Milunovich and Benjamin Wilson, in a note to clients on Tuesday,” Barbara Kollmeyer reports for MArketWatch.
“The analysts based that increase partly on expectations for higher earnings per share in 2017 — to $9.30 from $9 previously,” Kollmeyer reports. “UBS said early signs of demand for the iPhone 7 are ‘encouraging.'”
Kollmeyer reports, “They added that Apple gains could fade in the next two weeks and then move up into earnings.”
Read more in the full article here.
MacDailyNews Take: UBS in August predicted better iPhone sales than the general consensus at the time.
SEE ALSO:
UBS: Apple will sell more iPhones in fiscal 2017 and 2018 than expected – August 3, 2016
And you know what all those target price upgrades are going to do for Apple’s share price? Absolutely nothing.
I’m willing to bet Amazon reaches $1000 a share before Apple ever sees $130 again. Some financial pundit said Microsoft could reach $90 a share and even that seems more likely to happen than Apple reaching $130. Apple is nothing but a climb and dive stock. There’s no momentum behind Apple at all. Apple is being run so conservatively, there’s really nothing for shareholders to look forward to in terms of share gains.
How very courageous of them to raise their price level from $115 since the stock is now at $114. What are these guys, psychic?
My thoughts exactly!
Typical analyst/brokerage firm behavior – just reacting to the market and acting like you are predicting its future. Invariably, the target price upgrades come after the stock price increases, and the target price downgrades occur after the stock price has dropped. Yes, there are the contrarian analysts who go against the grain and are occasionally right, but mostly out of pure luck or persistence.
ohhh how genius!…
in my universe All screw Analysts.. from A to Z !
they just babble… right or wrong…. they have to to get their pathetic paychecks somehow.