“Apple will surge 40% in the next 12 months, according to Dan Ives of Wedbush,” Heidi Chung reports for Yahoo Finance.
“The firm initiated coverage of Apple with an Outperform rating and added the tech giant to its Best Ideas List,” Chung reports. “Ives also slapped a $310 price target on the stock, making him the biggest Apple bull on Wall Street. The average price target on Apple is currently $235.91, according to analysts polled by Bloomberg.”
Chung reports, “The firm’s bullish outlook centers around the expectation that Apple will sell more iPhones than Wall Street has been projecting and that the services business will ramp up.”
Read more in the full article here.
MacDailyNews Take: A 40% increase would bring Apple’s valuation into the $1.5 trillion range!
God willing and then creek don’t rise!
Hell, I want the creek to rise!
None of this glass half full stuff – I want my cup runneth over in spades.
The article also says that AAPL is selling at $235.9! So much for knowing what they are talking about.
Nope. The article identifies the price target, not the current stock price.
“The average price target on Apple is currently $235.91..”
40% increase only if Apple updates and/or corrects the prices of 100% of its product lineups. I wouldn’t hold my breath.
Ha ha
You never do hold your breath Mike 😉
But as usual you’re probably right. Apple is an elephant and Cook couldn’t get a ballerina to dance, let alone an elephant. This isn’t Jobs’ company anymore.
The pump and dump wall street press is more outlandish with each cycle. Must be what it take to get reposted on MDN these days.
The only thing that has ever supported Apple’s valuations are their industry leading profit margins. Dropping prices would not help.
Such a high price target seems practically impossible especially since I’ve heard Apple’s streaming service is going to be free for Apple product users. That strategy will depend on selling a lot more hardware and I wonder if that strategy will work. Apple’s streaming strategy won’t come close to giving the value that Netflix gets. Netflix’s value comes mainly from subscriber growth which I find quite amazing. Netflix doesn’t seem to be making that much money yet they have a P/E of 150 or so.
Anyway, Ives is beginning to sound like cheerleader Brian White. If a 40% increase means Apple’s worth becomes $1.5T, it would give Amazon a run for the money to reach the $2T market cap mark. That just sounds crazy to me when everyone had said Apple was practically done as a growth company. I feel this call is too bullish based Apple’s current products and services and China tariffs. How I wish it were possible and I’d be dancing in the streets. It would be a long, hard climb from $220.
As usual you write a lot, but never say anything.
A knowledgeable investor knows that for the past 7 years AAPL has grown (YoY) >28% annually (on average).
Given the increase in available NEW IPhone models (9 vs 4 just 2 years ago, all of which are priced higher than last year’s iPhone 8) and the dramatic increase in iPhone ASP, it is entirely conceivable that AAPL hits $310 in the next 12 months.
My personal AAPL price target for October 2019 is $320.
Yes, everyone was amazed at Brian White predicting $1000 AAPL when everyone else’s targets were 600s. But Apple is now $1500 (split adjusted).
Well, if next years’ watch does the blood-sugar monitoring thing, they’re practically going to be minting money.
I agree though I think the Apple Watch blood-sugar monitoring thing is probably 2-3 years away. But I HOPE it’s next year. When it does it’ll be a game changer for many.
Big deal. I bought Apple at about 11 and it went up over 5000% making me a mutimillionaire in retirement. 40% is chump change.
Me too.
Interesting watching the transaction volume the past 10 days. I think Apple is stepping in and buying a lot of shares any time it drops below $220. I want to see what the buyback numbers are for this this quarter. This will continue to support the stock in the short run and push it upwards over the next 18 months.