“Analysts at Canaccord said on Wednesday that they set a price target of $650 a share for Apple Inc.,” Greg Morcroft reports for MarketWatch
Canaccord “said that it is possible the firm will set a dividend this year to return money from its cash hoard to shareholders,” Morcroft reports. “Canaccord previously had a $560 a share price target on Apple.”
Read more in the full article here.
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bring it onnnnn!
Dyslexia?
Shit Happens®
Something keeps nagging at me in regards to Apple’s cash- is there a fundamental that they are after that is being ignored? I mean, really. Their hoard is worth more than most countries on earth.
Don’t get me wrong. I think it is great and it gives them the ability to be as nimble as any startup, but I would think they have something else more significant in mind than just being able to be nimble (as if that was something easy for any other behemoth like Apple to do!)
They want to buy Microsoft out of cash.
Cue the stumbling footfalls of clueless analysts looks to jack their estimates now that the obviousness of Apple’s value has inserted itself to the wrist. Nice set up for next quarter, when despite being ignorant of Apple’s product cycle, they’ll ignore guidance, hyper-inflate their estimates, and be genuinely surprised when Apple can’t match them – just like last quarter.
… is afraid. She wants me to SELL!
After all, the market tricked me and didn’t COLLAPSE after the Good News, maybe it’s tricking me again? I do expect to be out at the end of the quarter … the news won’t be “good enough” for the players … then get back in a day or two later. Two can play.
You should understand her fears. At least sell half of your shares just to please her. As soon as the earnings numbers wear off from the media, you’ll hear Wall Street “experts” start talking about how Apple is too big and how Apple has already tapped out all of their growth and how it’s wrong for any company to hold that much reserve cash, the law of large numbers and how when a company pushes hard up against a wall, the wall falls on them. I often wonder how many people out there actually hate a successful company that manages money very well. The more successful a company is the riskier it is to be owned. Apple absolutely cannot duplicate those numbers in the future. The end. Those are some of the amazing things I’ve heard this morning. Sometimes I often wonder what goes through the heads of experts, but I’ve had a broker that always used to love playing longshots because they may hit it big. Most of his picks sucked and he ended up selling them.
One of the silliest sayings I’ve ever heard is that success breeds failure and that’s what many people are saying about Apple. Apparently, companies need to strive for mediocrity because it makes some people on Wall Street more comfortable. I didn’t grow up learning stuff like that. Success was never considered being a waystop on the road to failure. I always considered success as setting the bar higher for those that followed.