Najarian: Apple stock headed to $120 per share

“After hitting a new all-time high on Friday, Apple stock has what it needs to continue its climb higher, OptionMonster’s Pete Najarian said,” Bruno J. Navarro reports for CNBC.

“‘I think it’s going to $110,’ he said. ‘I’ve said it for a long time, and now I’m starting to shift and think it’s going even higher because the stock has already moved off of this record launch that they had of this iPhone, when you look at the 6 and 6 Plus, internationally now 60 percent of their revenue drawn from that aspect of it as well,'” Navarro reports. “‘There’s a lot of reasons right now I think you can like Apple,’ he said. ‘And I think when you really get through the holiday season, this stock’s not going to go to $110. I think we see $120.'”

Read more in the full article here.

[Thanks to MacDailyNews Reader “David E.” for the heads up.]

16 Comments

  1. His brother, Jon, tried to short Apple when it was $95 a share a couple of weeks ago, saying there were no more catalysts in the near term. I hope Pete, who has long been bullish on Apple, is better at predicting.

    1. Huntman…Jon didn’t short apple, he bought a put spread (100-95). In fact he made that trade when the stock was at 100 and it traded down to 96 and change. He didn’t lose on that trade if he closed before expiration..,

    1. Ehhh, that was probably the show where Collin Gillis, after the AAPL blowout quarterly earnings,played Debbie Downer yet again with his $88 price target. Najarian seems to be one of the few who has a clue about Apple.

  2. The reality is that there is a lot of good news for Apple at the moment. Blow out quarterly results, huge demand for the iP6s, great Mac sales plus the future promise of the Apple watch.
    So the chances are good that the stock will be allowed to rise for a decent period. We have most of the quarter left so it could go up 10-20 bucks.
    Expect at some point that the stock will be hit by FUD as the broker cash in.

    1. I think Apple Pay is having its effect too as it has had such a positive debut, this is a move that will just keep on giving and is the sort of technology that will encourage other company sales and smooth their peaks and troughs. It’s effects are barely understood at present in terms of its true potential.

      1. mjmj666 – Apple if the perfect candidate for the phrase
        “No Pain No Gain” I have held this wonderful company
        for over 10 years and the GAIN is magnificent-beyond my wildest dreams.
        Congratulations to all the believers who stuck through
        all the analyst lies and Samsung’s disinformation campaign.
        I’m sure Steve is also gloating over the drubbing Samsung
        (Smoke & Mirrors Inc.) is now taking.

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