“With Apple’s (AAPL) fiscal Q3 report due tomorrow afternoon, after the closing bell, there’s still plenty of time to raise ratings on price targets on the stock, as people have been doing for weeks now,” Tiernan Ray reports for Baron’s.
“First JMP Securities’s Alex Gauna this morning raised his rating on the shares to Outperform from Market Perform, with a $135 price target, arguing Apple is poised to beat sales and gross margin expectations in both the near- and the intermediate-term,” Ray reports. “Also this morning, UBS’s Steven Milunovich this morning reiterates a Buy rating and raises his price target to $115 from $100, writing that his survey of Apple buyers suggests the company’s mix of products was better for this quarter than expected.”
Ray reports, “Milunovich also believes Apple can have a higher-than-expected gross profit margin in fiscal 2015 of perhaps 38.1% versus what he’d previously modeled as 36.6%. In part that’s because of the company’s moving past the impact of revenue deferral for the decision last year to make some iOS software applications, such as iWork, free with Apple devices.”
Read more in the full article here.
I like 135. I like it a lot.
I’ll settle for $142.857
I’ll take 134.99 please!!!!
Unfortunately, Apple’s share price doesn’t necessarily follow price target estimates. It’s not like Google, Amazon or Netflix which precisely follow estimates like clockwork. Apple’s share price is tied only to precise hardware sales and they all have to be good, no exceptions. Any single miss will leave shareholders in pain. As you can see, today’s upgrades are doing nothing for Apple shares which may be a good thing for investors.
Good luck to fellow shareholders but without new products it’s hard to tell what’s going to happen to Apple’s share price tomorrow. That’s anyone’s guess. I’ll be happy for a $3 pop over today’s share price and try to not think about Google’s $24 pop as a comparison.
Alex Gauno. A hundred thirty five bucks? Please! Actually I did watch him on CNBC and he (astoundingly) did have some coherent comments in favor of Apple. He mentioned Samsung trailing a bit, un-compelling MSFT and Apple’s great opportunity (especially in light of the IBM partnership) to greatly increase its presence in the enterprise.
So, coming from him I’ll take a hundred thirty five bucks (which equates to a pre-split price of $935. From Guano.
AAPL seems stuck below $95. Tomorrow better be good or we will see below split price in my view. I suspect many are waiting for iPhone 6, I know I am. So why would anyone buy last years tech? Hope I am wrong, want $100 before I sell.
Only Apple’s CFO knows the exactly numbers. Analysts and shareholders can only guess and prediction.
By early 2016, analists predict MSFT will be sub-dollar.