Citigroup’s new Apple price target implies 20% rally

“The price target on Apple’s stock was raised to $135 from $120 by Citigroup analyst Jim Suva, which implies a 20% rally from current levels,” Tomi Kilgore reports for MarketWatch.

“He indicated that most people know Apple is seeing stronger iPhone 6 and iPhone 6 Plus sales than initially expected,” Kilgore reports. “But his global field work suggests people are buying higher-priced, higher-memory versions of the smartphones than anticipated, which he said should drive higher average selling prices and margins, and therefore higher earnings.”

Read more in the full article here.


  1. And as for the recent flash crash, it’s just as I predicted:

    “So what happened on Dec. 1, according to traders, is that a big hedge fund with a nice track record for 2014 wanted to sell its most successful investment (Apple at that point was up 50 percent year to date) in order to lock in that nice year-end performance. So the hedge fund sent a big sell order down to the trading desk.

    The order was meant to be a limit order, one only to be executed at a certain specified price over a certain time, but instead was mistakenly entered in as a market order, causing the big slide in the stock. It was no coincidence this occurred on Dec 1, when investors start to close up their books for the year.”

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