“Canaccord Genuity’s Michael Walkley has raised the firm’s price target for Apple stock from $515 to $545, citing “solid demand trends” for the iPad and iPhone,” MacNN reports.
“Checks are said to show that high June-quarter iPhone sales persisted into the month of August, leaving the iPhone 4 as the bestselling smartphone at both AT&T and Verizon, despite growing competition from Android and public expectations that a new iPhone will launch shortly,” MacNN reports.
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“Regarding the iPad 2, Walkley says that checks show the device remains “by far the best selling tablet” when compared with hardware like the RIM PlayBook or Motorola Xoom,” Macnn reports.
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
remember these guys always lowball
i’d say the real target is around 650$ for this time next year
Do you honestly believe Wall Street is going to let Apple’s share price rise that high? Horace Dediu is supposedly working on some project using similar stocks to figure out why Apple is being punished for growth. It should be interesting reading how Wall Street keeps squeezing Apple’s P/E lower and lower as it’s revenue grows by leaps and bounds. By the end of the year I’m willing to bet that Amazon’s P/E will be well over 100 and its share value will continue to outperform Apple’s. Apple share value is being rigged to underperform for some reason I don’t quite understand so I have my doubts that Apple can break even $500 in a year’s time. I hope I’m proven wrong but I don’t see how Apple can stop the P/E squeezing.
Look at Apple’s shares today and then look at Amazon’s and Netflix’s shares. This despite Apple being upgraded by $30 and those other stocks having nothing. I’d have to consider that highly suspicious rigging if it were any stock except Apple.