Apple’s stock rallies after Credit Suisse upgrade

“Apple Inc.’s stock [AAPL, +1.31%] rallied 1.3% in premarket trade Tuesday, after Credit Suisse upgraded it to outperform from neutral given strong iPhone sales and expectations the technology giant will return more cash to shareholders,” Tomi Kilgore reports for MarketWatch.

“Analyst Kulbinder Garcha also raised his stock price target to $130, which is 19% above Monday’s closing price of $109.25, from $110,” Kilgore reports. “He believes there is scope for Apple to increase its cash return program to $200 billion and extend it for three years.”

Read more in the full article here.

4 Comments

    1. My thoughts exactly, we know the the Q1 results are going to be off the charts. Bought some more shares yesterday just pocket money but hey I’ll make a profit in a fortnight.

    2. You hope and I hope, but that means absolutely nothing when it comes to Apple’s share price movement. I think we’d be lucky to see $120 despite a blowout quarter. Apple’s institutional ownership is too damn low for reasons I fail to understand. Apple has really turned it around and offers decent dividend returns to be simply ignored by the institutional managers.

  1. This is nonsense. It’s just a fluke that it’s gone up today. CreditSuisse had nothing to do with it. There were other upgrades last week that had no effect either.

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