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. 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.

  2. 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

  3. @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.

  4. Actually, you are correct Marshall. I was hedging against stagnation. Most of the time Apple stagnates b/w quarters and I felt that would be the case, despite the iPhone launch in June. I expected a runup to occur in April/May, but not in March.

    As I said, got burned and either wait for it to come down or move on to other pastures. I like to own stock in companies that I do business with. I own Apple products and love the company and its stock.

    BTW, I had a 130 call when the stock was trading at 123 with a week to spare. Got exercised when it went to 133. Decided not to buy back in due to uncertainty. Additionally, I can’t argue with a 200% gain on my investment.

    Rickw.

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