“Apple stock looks like it’s getting its juice back,” Patti Domm reports for CNBC.
“And analysts say it could continue to gain even if it doesn’t announce a futuristic sounding plan to turn the iPhone into a remote control for everything in the home, as reported this weekend in the Financial Times,” Domm reports. “Apple stock has popped 18 percent since reporting earnings just five weeks ago, ten times the gain in the S&P 500. At the time, it also announced a 7-for-1 stock split, dividend hike and bigger share buyback, which have also helped boost its stock.”
“Wall Street analysts have a target range for Apple from below $600 to a high of $777 at Cantor Fitzgerald, according to FactSet. The stock is still well below its all-time high reached on Sept. 21, 2012, when it touched $705.07,” Domm reports. “There’s another factor that could also push Apple stock higher. Morgan Stanley analysts say major shareholders of Apple are now significantly underweight and as they rebalance, that could fuel further gains in the stock, heading into the iPhone 6 product cycle, launch of iWatch and other potential services.”
Read more in the full article here.
Financial analysts, making “predictions” AFTER the fact. 😉
Glad to see analysts have set a target for Apple “below $600.” People actually pay for this advice? /s
Just clueless. “The stock is still well below its all-time high reached on Sept. 21, 2012, when it touched $705.07,” if you had know idea how fast AAPL is growing for almost a year now. 12.7% is nothing at this rate. Perhaps the 7 to 1 split will bring the size of the numbers down to where this idiot can do the math. Just not enough fingers and toes with these large numbers. AAPL has gone up 55.96% between June 27th last year to now which is 4.4 times greater than the 12.7% being worried about.
Yup….Right on the money Jersey Trader, should see some
dramatic moves with Hedge Funds stepping up to the plate, albeit late.
With these returns I’m riding Acela and make that First Class.
See you in the club car.