Caris & Co. ups target price, estimates on Apple Inc.

Caris & Company analyst Shebly Seyrafi today reiterated his “Above Average” rating on Apple Inc. (AAPL) and upped his price target to $200 from $170.

The analyst also raised his EPS estimates based on higher expectations for Mac and iPhone sales.

Seyrafi now expects Macintosh sales of 10 million units in fiscal year 2008 and 12.9 million Mac units in 2009, up from 9.6 million and 12 million, respectively. The analyst increased his iPhone estimates to 10.2 million units in in fiscal year 2008 and 17.9 million in ’09, from 10 million and 16.6 million, respectively.

Seyrafi now expects 2008 Earning Per Share (EPS) of $5.35, up from $5.21 and, in 2009, sees EPS of $6.32, up from $5.79.

[Thanks to MacDailyNews Reader “Judge Bork” for the heads up.]

17 Comments

  1. Why is it news when an analyst whose price target is $X below the current stock price rationalizes setting it $X above the current price? If he didn’t have a clue before, why should I believe he has one now?

  2. @Demon
    Wait till June hits and things will get interesting. It will probably be best to buy or hold stock you have now then sell after the new iphone is out. because some lame analyst will be mad he didn’t buy in and stock will drop then they buy it all up then say it’s a great time to buy.

  3. I can’t believe these “analysts”. A few months back everyone was downgrading Apple on valuation concerns, lagging ipod/iphone sales, etc. Then the stock drops to $120/share. Suddenely, Apple isn’t so bad after all. Even Cramer did an about-face on the stock.

    You really can’t make stock decisions based on these guys…….

  4. ridiculous, they upgrade the target value to something AAPL will reach within a few weeks, 250 seems more realistic.

    sell first week of januari, and buy 3 weeks later, that pattern has been the right one for years and years.

  5. HUMBLED !!!!

    I got exercised at 130 and decided not to buy back in until it dropped to 135. It didn’t! I then read the tealeaves adn thought that it would tank after earnings. It didn’t! I then looked at RSI patterns, MACD lines, Fibonacci numbers and felt that it would vacillate between 135 and 156. It didn’t!

    So, here I stand among all MDN readers and writers and confess:

    “I WAS WRONG !”

    I have always been bullish on Apple, but thought that the data was reading “serious pullback” before going back to 200 by October/December. That was what I was waiting for. Now, it’s all over for me and this stock. I don’t see it returning to 130 or 140 any time soon.

    I’ll still support Apple, products etc, but wish all of you the best of luck in the stock. It’s been a great ride from 40.

    RickW.

  6. That’s what eventually happens to all speculators/gamblers. Unless you can actually move the entire market in order to game it (which is illegal but done all the time by “analysts”), your current situation is inevitable.
    Best of luck in the future,
    Jake

  7. @jake:

    Actually he doesn’t sound as if he was speculating Jake. More likely than not, trying to preserve capital with a 130 call, when the stock was trading at 119 I would presume. That’s a heck of a lot different from speculating.

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