Canaccord, Needham up Apple price targets; Apple earned 80% of handset industry’s operating profits in Q411

“Two financial analysts have raised their targets for Apple stock. The highest target comes from Canaccord Genuity’s Michael Walkley, who has pushed his forecast up to $655,” MacNN reports. “‘Our monthly channel checks indicated very strong sales trends for the iPhone 4S at all three U.S. carriers and overall strong iPhone sales in international markets. We are increasing our March quarter iPhone estimates from 30.1 million to 32.6 million units,’ he elaborates.”

MacNN reports, “Needham analyst Charlie Wolf, meanwhile, has boosted his stock target from $540 to $620 as part of a semi-annual valuation. Rather than citing the iPhone, though, he credits the iPad and the Mac.”

Read more in the full article here.

According to Canaccord Genuity technology analyst Michael Walkley Apple earned 80% of all handset operating profits during the fourth quarter.

Check out this chart here.

MacDailyNews Take: Ah, let’s take a stroll down memory lane:

We’ve learned and struggled for a few years here figuring out how to make a decent phone. PC guys are not going to just figure this out. They’re not going to just walk in.Ed Colligan, Former CEO of the now-defunct Palm Inc., November 2006

Bloodbath.

[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]

13 Comments

    1. All the carnage on the side of road must be rather eye-opening. Though Apple is creating value, it’s growth is coming at the expense of some other companies. It would be interesting to compare Apple’s gains with the cumulative losses of RIMM, NOK, MSFT, MOT, HP, DELL, etc.

  1. And with AAPL up 3.5% (almost $17 now) to $493 after hitting a high of $496.75, apparently Wall Street might be acknowledging the stock is still a screaming bargain.

  2. Yea, and once one of the ANAlysts acutally uses the iPhone + iPad + MAC + AppleTV, then they might actually get a little closer to where the stock is actually going to be in the future.

  3. The analysts are pounding the table so hard, it’s about to collapse at any minute. I hope these gains aren’t just some fleeting bubble and that Apple stays here for a while. I don’t want to get carried away with all this, because in a day or two the financial pundits will be writing about how Apple has gone just as far as it can before it comes crashing to earth and that everyone that wanted to buy an iPad or iPhone already has. I’m just glad that Apple may get some due recognition from Wall Street and I hope the P/E doesn’t continue to get compressed every quarter.

    1. Yup or pumping it up to cash in.
      This always happens – the analysts decide to boost the stock up to make money.
      Surprised it took so long to start but certainly pleased the price is jumping so high.

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