“Forget the Apple Watch and the iPhone. Susquehanna Financial believes Apple Inc. investors should focus on how much stock the technology behemoth says it plans to buy back when it reports fiscal second-quarter results later this month,” Tomi Kilgore reports for MarketWatch.
“Analyst Chris Caso boosted his price target for Apple’s stock to $150, which is 19% above current levels, from $145, while maintaining his positive rating,” Kilgore reports. “Caso also raised his iPhone production and shipment estimates, as he sees no signs that sales momentum is fading and is upbeat on the outlook for Apple Watch shipments.”
“But Caso believes ‘the most significant potential catalyst’ for the stock in the earnings report will be the update on Apple’s capital return plan,” Kilgore reports. “He estimates that Apple will generate $118 billion of free cash flow over the next two years.”
Read more in the full article here.
MacDailyNews Take: For the time being, unless Apple plans to buy back 90% of their outstanding shares, nothing is more important to Wall Street than iPhone sales.
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