Banc of America raises Apple Computer price target, reiterates ‘buy’ rating

“Apple Computer Inc. had its share price estimate raised to $93 from $84 by Banc of America Securities, which cited higher sales of laptop computers,l” Michael Patterson and Ville Heiskanen report for Bloomberg.

Patterson and Heiskanen report, “Unit sales of notebook computers should grow 20 percent in fiscal 2008, analyst Keith Bachman wrote today. He estimated 2008 profit would be $3.25 a share on sales of $26.9 billion. Analysts in a Thomson Financial survey expect profit of $3.20 on sales of $26.3 billion.”

Patterson and Heiskanen report, “Apple will attract more customers for the laptop because the company is making it easier for users to run both its own operating system and Microsoft Corp.’s Windows, Bachman said. He rates the shares a ‘buy.'”

Full article here.

MacDailyNews Note: Apple today set an all-time intra-day high of $93.08 and an all-time closing high of $91.63.

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Apple Computer shares crack $90, hit new all-time high for third straight day – November 22, 2006
Apple shares hit another new all-time high – November 21, 2006
Expert: ‘Apple will be a triple-digit stock in a matter of months’ – November 21, 2006
Apple shares hit new all-time high – November 20, 2006

7 Comments

  1. Don’t you just love analysts with a firm grasp on reality.

    Let’s see, how about setting the target price a buck or two above or below the current price. By doing that, we can claim to be accurate in our predictions. Pretty cool, huh?

  2. If the analysts are only predicting 20% growth in Mac notebooks, 3% growth in Mac desktops, and 3.9 M Apple cell phones for 2007, then there will be a BIG increase in the stock when Apple beats those expectations by a country mile.
    My prediction for Apple in 2007: 30% year-on-year growth across all Macs (i.e., higher for notebooks, lower for desktops) and at least 12 M Apple cell phones.
    Translation: BUY, BUY and BUY some more Apple stock!!!
    P.S. Does anyone know if this analyst’s predictions are in the mainstream among other analysts–God I hope so!

  3. Coming kinda late to the party, but at least they’re here now. Of course next week they’ll have to raise their predictions, but that’s another story! Better late than never, for both parties and clue-sticks.

  4. Wasn’t it just about a month ago that the “MooooOOing” herd of Wall Street companies set $84 target prices — they must have been doing breakfast together? Those target prices are the predicted prices a year from when they are made. They fail to include any Apple innovation that is not formally announced. In other words, Apple’s history of multiple innovations per year is assigned a value of zero! These bozos are as useless as teats on a boar hog. They may effect short to medium term prices, but eventually the fundamentals of business blow away their foolishness.

    I invest long term in AAPL. I stay away from anal-ist inflicted Wall Street machinations – I do not partake in options trading. I bet on Apple executing its brilliant plans, based upon its understanding of the market, superior leadership and management and talented engineering teams.

  5. May I suggest anyone interested in AAPL should hop on over to http://www.macobserver.com and check out the Apple Finance forum, where you will find some very intelligent posts from folk who actually trade on a daily basis in AAPL and the markets generally. It’s a laugh and also a lot of good insights. Basically, it would seem that the analysts are way behind on their share price predictions.

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