“Analyst Charlie Wolf said in a note to investors Friday the increase from $235 is because the trajectory of Mac and iPhone sales were ‘materially higher’ in the last two quarters than Needham had forecast,” Hughes reports. “He also expects the iPad to make a ‘material contribution’ to the company.”
“Another factor in Apple’s projected success: its massive amount of cash,” Hughes reports. “The company revealed during its last quarterly earnings conference call that it had $39.8 billion at the end of the December quarter, an increase of $5 billion from the previous quarter.”
Hughes reports, “And while Mac sales have been strong, Wolf said they could become even better… the iPhone and iPod ‘halo’ effect could lead to significant growth for the Mac platform in 2010.”
Read more in the full article here.
The Mac sales in the last quarter could lead to higher sales, too.
And who exactly is surprised?
I believe that Deagol’s estimate of Apple’s current fair value is about $ 260. So, the 280 price target is an easy reach.
What will CRAPPLE do with the huge pile of cash in its reserves? Oh yeah keep them for themselves greedy little pigs. As for the price target to $280 it’s not surprising to me since it’s a short-term growth. Eventually they will hit their ALL TIME HIGHS and I’ll be watching their stock drop then on.
http://www.bing.com When it comes to decisions that matter, Bing & Decide
Of course, if Deagol’s CURRENT fair value is $260, and Wolf’s12-month price target is $280, that’s not even 8% appreciation.
I’m a PC:
If one put your brain in a jaybird’s head, he’d fly backwards…
@I’m a PC
If Apple’s share price goes to $280 it will mean that Apple is larger than Microsoft.
Makes me wish I hung on to my shares! GO AAPL!!!
I’ve still got my shares! Real nice opening ceremony from Vancouver.