“Few enterprises in recent history have captured the imagination and stirred the emotions of consumers like Apple (AAPL),” Robert Paul Leitao writes for Seeking Alpha. “Ask almost anyone about their view of Apple and one is apt to hear spirited responses ranging from high admiration and praise for the company to complaints about the way Apple seeks to control virtually all aspects of the user experience and the content available to purchase through the various iTunes and app stores. No matter the strong sentiment about Apple, few can dispute the company’s extraordinary success and potential for continued growth.”
“There are, of course, macro economic factors impacting Apple’s share price performance and investors are currently trapped in a challenging market cycle,” Leitao writes. “But for the first six months of the current fiscal year Apple’s revenue has risen by 76.2% and earnings per share has moved higher by 83.2%. These rates of growth and anticipated similar rates of growth for the remainder of this fiscal year are not currently priced into the company’s shares.”
Leitao writes, “On May 31st I published a posted titled Why I’m Bullish on Apple. In that post I mentioned the company’s prospects for growth and the factors that will deliver outstanding revenue and earnings growth well into next fiscal year and put forward my current 12-month price target for AAPL of $590 per share.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
To the moon Apple! There’s no competition.
Unfortunately our shares are stuck in Brooklyn.
Patience is a virtue you have to wait for..
These “experts” continue to say it is going up dramatically. But on average since Feb 16th when I last added shares I have watched AAPL drop 12%. I predicted here weeks ago that we will soon see $300. I have my stop loss there on all my holdings but I may have to lower it. I do not think AAPL will go up until Steve returns full time. And if he does not return, $300 looks generous to me.
I think Steve will absolutely make the stock tank. But that’s if he “leaves” permanently without warning. Boy, grab your ass with both hands then because you are in for a ride almost straight down! The current performance is due to manipulation by the big boys, people taking profit, it’s summer and everyone knows tech runs strong in the fall and most of all we are all waiting for the new iPhone ( in any form). Plus you have noticed that the economy is not doing well? Steve being on leave now? No, that is not the reason AAPL is doing poorly. We are all pulling for Steve. We are all pulling for the stock price too.
My belief is that the stock isn’t going anywhere near these lofty estimates until there is a significant stock split, like 10-1. The price per share makes no difference to me (and probably you too), but I can’t begin to count the number of people who have told me they won’t buy into it because “it’s too expensive”.
True
Which is more expensive to buy: $20,000 worth of Dell stock or $20,000 worth of Apple stock?
Not much you can do about misperceived perception
LOL. I was going to say a pound of feathers and then I saw your screen nam.
You want to invest $10,000 in a company which is growing rapidly, yet still has enormous headroom, and is literally inventing new markets? The number of shares doesn’t matter. Some people can’t grasp this simple fact, but they are not major investors and have no effect on the market price.
AAPL’s currently stagnant stock price is due to macro-economic and market dynamics unrelated to company performance. Apple’s value has not stopped rising dramatically. It’s worth considerably more than its current market price and climbing.
But if the economy falls back into recession, investor panic will be ugly. For example, in the second half of ’08 the stock fell from 190 to less than 80, even though Apple was growing like mad. We may not fall back into recession, but right now there is a lot of fear of that. If we do, the sell-off could be severe. For a while.
True -” the number of people…”
Seriously, what is the point in posting these articles? They don’t have any track record of accuracy.
I want to take a few puffs out of whatever that dude was smoking. Ah, maybe he just fell into a pool of Apple-laced Kool-Aid. Every time I hear someone start upgrading Apple estimates and target prices, I take a look at Apple’s share price and almost without fail, it’s down even further than the day before. It’s rather common now to use an inverse formula for Apple’s share price. Use whatever increased amount an analyst upgrades the target price to, then subtract that number from the current share price to get tomorrow’s Apple share price. It seems to work rather well.
Twelve months ago, analysts had a price target of around $475 or so. They’re not even close although Apple met the conditions to put it at $475. Apple may have even exceeded those revenue numbers, IIRC. So, honestly, there are far too many pundits and analysts with their heads in the clouds when it comes to Apple. They’ll be lucky to see $475 by the end of the year at the rate Apple is going. By next week Apple should be around $315 or so which would be a gap of about $275 from this drunken dude’s giddy $590 share price.
The Apple bulls need to wake up to reality. Wishes and dreams rarely come true. I’m not hating on Apple or anything. Merely pointing out recent Apple stock behavior. Just don’t be surprised if Netflix shares pass Apple shares in a few months. Steve will be too busy with his new pet project of building the Apple Fortress of Solitude to concern himself with the trivial matter of Apple’s ever-falling share price.
Anonymous Coward TrollTard Deluxe. 😆
But someone is sure to believe your deceit and sell their Apple stock. You obviously enjoy inflicting misery. 👿
Who the hell wouldn’t be bullish on Apple right now? I expect even paid anti-Apple trolls are drooling over the dead low stock price.
Is Apple stock undervalued? Astronomic DUH Factor!
Logic dictates AAPL should be doing better. Unfortunately the market is governed by emotion.