A slew of firms have revised their price targets upwards on Apple Inc. (AAPL) following the Mac- and iPod-maker’s stellar earnings report yesterday:
Apple Inc. price target increases:
• Citigroup: to $105 from $98
• UBS: to $124 from $118
• Piper Jaffray : to $124 from $99
• Prudential: to $100 from $90
• Bear Stearns: to $130 from $125
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So the stock didn’t go up much. Now I’m now expert, but although they’re predicting a lower quarter next time round, we do have some good things to look forward to. OSX 10.5, i-Life, i-Work, Apple Phone, Apple TV & I’m pretty sure their already working on new i-Pods with the i-Phone touch screen. Who knows, they may already in production. Things will start moving ahead sooner than we think.
Because of this, expect it to drop significantly, as people take profits.
dix99: your now expert in speling ether
I was aiming to take profits, but reckoned on a leap post results, which hasn’t happened…
I’m patient though.
This is typical of what happens whenever Apple posts great results. Short term riders will take their profits and run, so you’ll see a short selloff for a day or two, but the stock will rebound. For some, this will result in a buying opportunity. Remember, the stock could conceivably split again if it breaches $100 a share, and of course, with the iPhone forthcoming, and Leopard coming out soon, there’s nowhere to go but up with APPL.
To dix99: Who would want an iPod with a touch screen? The tactile control is essential in a device like that. I could see a larger screen, and a smaller control wheel (shuffle-sized control on a full-size iPod-with-video with a larger screen, anyone?). Most of the time I use my iPod, I don’t take it out of my pocket (it’s usually on shuffle, and I just skip through tracks until the next one I like).
They’re saying it should go up yet the stock keeps going down. Apparently they’re not putting there money where there mouths are.
Things don’t always work the way you might expect. Apple stock dropped following the company’s financial conference call because Wall Street expected higher guidance projections from Peter Oppenheimer in the coming quarter. I think this was an over-reaction, and looking at the after-hours trading in Apple, the market agrees.
Clever investors often look for over-reactions to take advantage of better prices. Instead of Apple introducing everything at once at MacWorld, I have a hunch that the company is going to have a rolling thunder approach in the first half of the year. Keep in mind that Microsoft will launch Vista by the end of the month, and will do so with incredible fanfare. The hype around Vista might temporarily depress Apple’s stock price, creating further investing opportunities. Don’t be surprised if Apple makes a well timed set of big announcements through the spring to counter the Microsoft marketing and PR blitz.
For example, if rumors are true, we could see a Beatles Super Bowl ad, or an announcement around Valentines’ Day. OS X 10.5 can’t be far away, and with it, related software and hardware products. If Apple can develop an iPhone, imagine how easy it would be to make a video iPod based on the same multi-touch technology. And all of this will lead to the launch of the iPhone in June. Given the many millions that Microsoft will commit to marketing Vista, I think this is a good way to counter all the noise you will hear about it. And that’s a good way to defend the price of Apple stock.
Over the long run, if Apple continues executing like it has, the stock price will eventually track the company’s earnings growth. And if you are a long-term investor like me, that’s good news.
I agree with Lakeisha (on most points) and am long aapl. However, I did cut down my position size, both to lock in profits and to take advantage of this dip to buy a new position at a lower price point. I think it’s going to be a good year. Good products, some really excellent usage of cool, new technologies and a growing user base. Hell, my brother (a long time PC apologist) is seriously thinking of switching. Both of his PCs fried and we lent him a very old PowerBook. He’s only had it a couple of weeks, and he’s hooked. He’s talking his girlfriend into a MacBook as well. Go Apple Inc.!
I invest long term in AAPL. There are so many sharks on Wall Street trying to panic the small investor that it is dangerous to trade on margin. I don’t. If you do, you better know what you are doing. Go to the TMO Apple Finance Board site to learn more.
With all of the stock market manipulation of AAPL, I decided to just by and hold for years before cashing any of it in. Eventually, earnings growth will push the stock up. Apple will continue its fabulous rise IMHO. I’m betting on it.
In the long term stocks will always come to their true worth. In the short term they will bob up and down, way above and way below their worth. Unless you really are in the know, buy and hold any company that you beleive has a long term upside.
With all the announced and unannounced (but probable) products coming online this year, Apple will rise well above $100, do a split (2 for 1), and be back above $100 (post-split) by this time next year. Stock price is about future potential. Apple has a lot going for it RIGHT NOW, but it’s certainly not standing still to let other play catch up.