“Apple (AAPL) shares are hitting another record high,” Matt Krantz writes for USA Today. “And it seems like there’s nothing that can stop it — not even price targets.”
“Shares of the smartphone-maker keep blasting blast analysts’ price targets almost as fast as the analysts can raise them,” Krantz writes. “Apple’s breathtaking rally this year — powered by strong uptake of the iPhone 6 smartphone — continues to mock analysts’ price targets rooted in fundamentals and valuations as emotion and speculation takes over.”
“The highest 18-month price target on Apple is currently $143 a share,” Krantz writes. “That might seem outlandishly high, especially since the stock is already trading at 17 times its earnings the past 12 months. But analysts have learned the hard way that you’re either bullish on Apple, or you’re wrong.”
Read more in the full article here.
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