“Shares of Apple were up close to 9% in premarket, after earnings and revenue late Wednesday topped Wall Street forecasts and the company announced a 7-for-1 stock split,” Barbara Kollmeyer reports for MarketWatch. “Also: Apple’s split could pave way into Dow industrials, for whatever that’s worth.”
“If Apple matches that gain during Thursday’s regular session, it would be the best day for the stock since April 2012, when it rose 8.9%,” Kollmeyer reports. “Futures for the Nasdaq 100 surged 49.75 points, or 1.4%, to 3,607.25, while those for the S&P 500 index rose 7.6 points, or 0.4%, to 1,880.50. Futures for the Dow industrials added 39 points, or 0.2%, to 16,499.”
Full article here.
“Analysts at J.P. Morgan Thursday lifted Apple’s price target to $623 from $585, while reiterating their overweight investment stance,” Peter Nurse reports for The Wall Street Journal. “‘We believe that AAPL has the ability to outpace expectations by tapping the $63bn sub $1,000 laptop market with iAnywhere as well as new products like the iPhone6 and iWatch,’ said J.P. Morgan, in a note to clients.”
“Over at Goldman Sachs, analysts have lifted the 12-month target price to $620 from $610, while keeping a buy rating,” Nurse reports. “‘We now forecast FY2014 revenues of $182.03 billion and EPS of $44.70, from $181.24 billion and $44.51 previously,’ Goldman Sachs said. ‘Bottom line: this installed base growth provides a far more robust platform for future device growth (old and new categories) than the bulls or bears previously believed.'”
Read more in the full article here.
MacDailyNews Take: We believed. 🙂
Those who underestimate Tim Cook do so at their own peril. – MacDailyNews, February 25, 2013
Apple’s 7-for-1 share split makes joining the Dow more likely – April 23, 2014
MacDailyNews presents live notes from Apple’s Q214 Conference Call – April 23, 2014
Apple announces 7-for-1 stock split; boosts dividend, ups buybacks to $90 billion – April 23, 2014
Apple smashes Street with revenue of $45.65 billion in Q214 – April 23, 2014