“RBC Capital Markets on Monday increased its price target for Apple stock to $120 per share, a number that incorporates the investment firm’s expectations for the upcoming Apple Watch, predicted to sell 20 million units in its first 12 months,” Neil Hughes reports for AppleInsider.
“RBC analyst Amit Daryanani said on Monday that his new price target incorporates estimates for the Apple Watch, which he expects will launch around March of 2015,” Hughes reports. “He predicts that Apple could sell 20 million units in the wearable device’s first 12 months, with an average selling price of $520, achieving $10 billion in added revenue over the period.”
“Thus far, Apple has said little about its upcoming Watch, offering a launch window of “early 2015″ and a starting price of $349,” Hughes reports. “Daryanani expects that some versions of the Apple Watch — most notably the fashion-focused 18-karat gold edition — will sell for over $1,000.”
Read more in the full article here.
At least $349.00 of that $10 billion will be from me.
It’s very possible that APPL will pass that mark by the end of this week.
I’m beginning to think that the aapl stock split is helping the stock break out of the $80-100 range it was in before. I know that is has no difference of valuation but in the last few weeks we have seen 1-2% consecutive rises in the stock without any mention of the stock being overpriced. A few have noted that prior to split the stock price would be in the $800 range. A mental barrier has been broken and combined with the recent good results has allowed the stock to rise closer to where it should have been all the time.
I’m sure that we will see profit taking in the near future or at the very least at earnings time but it’s great to see the price finally break that barrier.
Agree. A rise in stock price from $700 to $702 doesen’t get the same reaction as a rise from $100 to $114, even to a computer trading program.
I think these analysts are getting a bit ahead of themselves. Not one AppleWatch has been sold yet and what can anyone really project from that. He might as well have pulled any round number out of his buttocks for all it’s worth.
As an Apple shareholder, I’ll be happy for any decent revenue increase, but setting a firm high number only opens the door for major disappointment if the number isn’t reached. From a world where most people aren’t necessarily wearing smartwatches to reach such a high number doesn’t make much sense to me. I need to take a wait and see attitude with wearables. I wear both a watch and fitness band and it doesn’t bother me one bit but I’m not convinced most consumers would like wearing a somewhat bulky AppleWatch requiring daily charging.
“He might as well have pulled any round number out of his buttocks for all it’s worth.”
Or, perhaps, his little round head?