BMO ups Apple price target to $450 on new pay structure for top execs

“Down more than 22% in 2013 to rest at $413.50, Apple Inc. nonetheless commands respect from Wall Street. (Currently, 29 of the 38 analysts following the stock rate it a ‘buy’ or better.) This morning — following news that the company is rolling out a new pay structure for its top executives — BMO upped its price target by $15 to $450, while maintaining a ‘market perform’ rating,” Beth Gaston reports for Schaeffer’s Investment Research.

“The options crowd has recently begun to display signs of skepticism, as evidenced by AAPL’s 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX),” Gaston reports. “Although the current reading of 0.71 reveals that calls are still being purchased to open at a faster pace than their put counterparts, the ratio itself is higher than 87% of the past year’s readings, suggesting that demand for long puts has been on the upswing during the past two weeks.”

Full article, with info about upgrades to AMD and Starbucks, here.


    1. What’s worse is that the $11.00 Apple is losing today, will take many months to recuperate. Whereas Apple of a few years ago would scoff at such a loss knowing that by the end of the week it would be up $20.00… Sadly, those days are long gone.

  1. What a joke. I just hope Apple is buying back its shares by the truckload. Apple’s P/E ratio is sitting solidly in the mid 9s which indicates a low valued company is being valued even less by Wall Street. I’m feeling no pain as I’m already numb in the year 2013. Poor Cookie. He’s going to feel some pain as his CEO paycheck shrinks significantly on the next go ’round. He has zero chance of getting any shareholder value boost for Apple.

  2. Some honest beancounter out there in the world needs to develop a way for people to invest in companies they believe in that is immune to manipulation by those who have no interest in the success of that company…some kind of iTunes Store for investors.

    1. True, almost everything is down today. But AAPL is down so much more than everyone else. Nearly 4%. There are some bargains out there today and will be more in the near future. I’d hold off on AAPL though. There are just so many good places to put your money.

  3. Thanks Silverhawk1 for reminding, we are in a stage of panicking, we forget that the whole market is going down today. Hopefully, it’s going back up sooner than later.

      1. WTF? The best news from MS in recent days is that they’re NOT going to include as many draconian measures in their new Xbox.

        Day traders really are emotion-driven morons. True investors are getting shafted.

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