Apple is closing in on $800 per share

“Apple hit intra-day today, November 13, which is the equivalent of $794.15 per share before its 7 for 1 split earlier this year,” Chuck Jones writes for Forbes.

“Today’s almost $2 increase or about $13 pre-split may be largely attributable to Toni Sacconaghi at Bernstein raising his target price from $110 to $120 and citing that margins could increase in 2015,” Jones reports. “Yesterday Steve Milunovich at UBS raised his from $115 to $125 based on iPhone survey results that especially pointed to strong demand in China for Apple’s new iPhone 6 and 6 Plus which is probably also helping.”

Jones writes, “While Apple’s stock continues to hit all-time highs its important to keep in mind the current financial metrics vs. the ones from two years ago when the shares hit an intra-day high of $705.07 or $100.72 on Friday, September 21, when the iPhone 5 was launched.”

Read more in the full article here.


  1. I call BS. To lionize any analyst is to create a monster. Toni Sacconaghi should not be credited for increasing the valuation of Apple stock or any stock for that matter. A company’s stock valuation increases (or decreases) over the long run not on an analyst projection (often arrived at by anatomic extraction) but by the company’s performance in generating cash and earnings.

    When I read garbage like this, I shudder. A one-day price jump is meaningless. It’s merely a point in time. To credit someone like Toni Sacconaghi is insulting, especially given his uncontrolled ego. Analysts are number crunchers and nothing more. When they are lauded as savants or sages, it’s time to be very afraid.

    This is yet another reason why Forbes can’t go out of business quickly enough in my opinion. Their reporting and commentary are worthless, and often dangerously so.

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