“Shares of Apple (AAPL) are up $1.84, or almost 2%, at $99.71, bouncing back from yesterday’s nearly 4% decline, as the company responded to claims of bending in the new iPhone 6 Plus,” Tiernan Ray reports for Baron’s.
“Stifel Nicolaus’s Aaron Rakers, who has a Buy rating on the shares, and a $110 price target, raised his estimate for the September quarter for iPhone unit sales to 39.6 million from 37.8 million, and raised his average selling price for the devices to $575 from $560. He also raised his fiscal Q1 estimate for December to 65.3 million from 58.6 million, with an average selling price of $680 from $630,” Ray reports. “BMO Capital Markets‘s Keith Bachman reiterates an Outperform rating, while raising his price target to $110 from $106, after raising his fiscal 2015 iPhone unit estimate to 189 million units from 178.4 million.”
Read more in the full article here.
Selling almost 40 million iPhones will dwarf the impact of a fake video of a bent iPhone 6 Plus.
a lot of people took delivery on their iPhone 6/plus in the last couple of days… it cannot be hidden around wall street that this is the new it phone.
Bought $10K of AAPL yesterday!😄
just ordered my iphone plus today from consumer cellular (the first day that it was available to order from that carrier.)
189 million iPhones projected and a $110 price target seems laughable. That would likely squeeze the P/E down to around the high 14s or low 15s. It doesn’t seem quite balanced when Microsoft can hold its P/E well above 17. I’m not complaining, but merely pointing out valuation discrepancies I don’t quite understand. Apple Pay will likely solidify Apple’s future along with the IBM collaboration, so I don’t see what’s exactly weighing Apple’s share price down. The fundamentals are definitely there. I guess I’ll simply have to find solace with increased dividends.
The market got what they wanted. Big drop on contrived FUD and a huge pump on raised estimates.
Someone just made a ton of money selling before the drop. I bet the bought right back in yesterday.