“Reports are mixed on just how well Apple did last quarter, with Morgan Stanley saying today it believes that the company’s third-quarter results, to be announced on July 24, will be a ‘relatively neutral event,'” Connie Guglielmo reports for Forbes.
“But analysts are mostly in agreement about Apple’s prospects going forward — and toward a share price of $1,000 or beyond in the next year,” Guglielmo reports. “‘We are buyers of Apple shares heading into one of the most significant products cycles in two years — the iPhone 5 launch this fall,’ Katy Huberty of Morgan Stanley told investors in a note today that lays out her ‘bull case’ for the shares reaching $960 in mid-2013. ‘We expect new products, emerging market growth and sustainable margin expansion to drive outperformance.'”
Guglielmo reports, “She’s not the only one. ‘Now that we are officially in the second-half and the iPhone 5 launch is within reach, we believe the stock is prepared for the next major leg up that we believe will propel Apple to our $1,111 price target over the next year,’ Brian White of Topeka Capital Markets told investors in a report today.”
Read more in the full article here.
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