“Apple has grown leaps and bounds, driven by the success of its iPhones, iPad and increased Mac shipments. We expect the iPhone-driven momentum to continue. Stronger-than-expected iPhone and iPad sales will help Apple grab a larger share of the smartphone market,” Zacks writes. “In our opinion, this is the key to long-term growth and continued appreciation of the stock given the large addressable market. We expect the company to outperform its peers this year. Over the last four quarters, Apple surpassed the Zacks Consensus Estimate by 21.3%.”
Zacks writes, “A majority of the analysts agree that Apple’s fiscal 2011 earnings will exceed previous expectations. Estimates are trending upward, as analysts’ opinions have turned increasingly bullish over the last thirty days. Out of the 47 analysts providing estimates, 34 have raised their estimates for fiscal 2011 over the last 30 days. There was no downward estimate revision. For the second quarter of 2011, 30 of the 43 analysts providing estimates upped their estimates in the last 30 days, with no negative revision… Apple has a Zacks #1 Rank stock, implying a short-term Strong Buy rating.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “GetMeOnTop” for the heads up.]
Zack’s moves Apple from NEUTRAL to OUTPERFORM. Wow. Who are these people who were “neutral” on Apple while it has gone from 250 to 350. Why would they be neutral when Apple has had record breaking sales quarters for the last 3 years?
I think Zack’s is a loser outfit if they are just now recommending Apple.
Heck, my brokerage firm (who shall be nameless, right, Chuck?) still eschews AAPL! Last year at this time, the equity was $194 and change; right now it’s $356 and change. Gawd, but what is wrong with these ANALysts? Are the trees getting in the way of their forest view?
Wow, this firm is nothing short of schizo… Just two weeks ago (Jan 26th) Zack’s REITERATED their ‘neutral’ rating and RAISED their target to $354. Just, wow!!
Who was that faux analyst that said Apple would go to $80, last year? No, not that Laura Goldman, but some analysts near Washington.
@KenC
That was BAM Investor — they were (and remain) short with a target of $45… Oooooooh the pain!!!
These analysts have their heads so deep up Ballmer’s ass that all they see is Microsoft tinged vistas.
All I’d say to that is, “Get a room!”
Thanks for nothing?
It will give the stock a boost but still.
One day, Zacks even come up with the idea that Apple might release a mobile phone!
Could this be the contrarian point? When Zacks finally jumps on the Apple bandwagon, is it time for the rest of us to jump off?
Just joking. Apple is just too strong to think about taking profits. Right now, I can’t think of a better place to park money than AAPL.