“Apple is a must-own stock after its blowout fiscal first-quarter earnings report, senior research analyst Lou Basenese, founder of Disruptive Tech Research, told CNBC on Tuesday,” Tom DiChristopher reports for CNBC. “Basenese said the earnings would have been hard to predict one year ago, when shares of Apple were trading around $70 and critics were wondering whether CEO Tim Cook was cut out for the job.”
MacDailyNews Take: You know, back when smart Apple watchers were backing up the truck.
“‘Clearly the iPhone 6 is the record-breaking story here,’ Max Wolff, Manhattan Venture Partners’ chief economist, told Closing Bell. ‘It sold much more than people thought, way above a quarter. That jacks up the margin. It also jacks up the average price per unit sold.'”
“JMP Securities has a price target of $150 on Apple shares, which gives the stock a mean market multiple for the S&P 500, said the firm’s senior research analyst, Alex Gauna,” DiChristopher reports. “‘I think you could argue with these kinds of numbers; it deserves a premium to the mean market multiple, so you can go higher from there,’ he said.”
Read more in the full article here.
MacDailyNews Take: Apple is now a must-own stock? Gee, ya don’t say?
[Thanks to MacDailyNews Reader “David E.” for the heads up.]
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