“Apple reported another quarter of strong earnings after the market close yesterday, with quarterly profit up by 33 percent on the back of strong iPhone sales in the U.S. and China,” Julie Verhage reports for Bloomberg. “As analysts across Wall Street are sending out new research this morning, some are changing their price targets.”
“One of the analysts who is raising price targets is Brian White of Cantor Fitzgerald,” Verhage reports. “White gives Apple a new target of $195 from a previous $180.”
We believe Apple is in the midst of a transformational, super cycle with a notably stronger iPhone cycle and initial strength around Apple Watch… Adding to the allure of this cycle is the ramp of Apple Watch that we believe will prove to be the best selling new product in Apple’s history (within first 12 months). — Analyst Brian White, Cantor Fitzgerald
Read more in the full article here.
MacDailyNews Take: At least somebody’s got an inkling of what’s to come. Not enough of an inkling, but an inkling nonetheless.
Do you think? OBTW, everyone who wants an AW has to have an iPhone. Talk about a gateway drug.
Odd how the predications of target prices increase and the current price drops.
WTF, Wall Street?
Arrrrrgggghhh. ‘predictions’
Markets teetering at all time highs and we’re waiting for the Fed decision on interest rates. Apple is just rolling with the Market right now. New highs by the end of the year and probably much sooner! It’s all a combination of natural cycles.
I can’t be the only one to find this constant raising of price targets as stupid unless Apple’s share price movement is simply totally disconnected by way of manipulation. Wouldn’t practically any other stock be rising as price targets are being raised instead of falling? Isn’t that a natural reaction for any stock.
I don’t believe price targets should be taken seriously for Apple because there is no guarantee that Apple will even get close to those price targets. Besides, analysts can rescind them at any time based on their own arbitrary conclusions.
I just don’t understand why Apple’s share price movement performs so differently from its peers but then again Apple has no peers in market cap by a very wide margin. I probably just need to think differently. Pay no heed to day to day fluctuations would be the proper way of thinking. If the stock is truly being manipulated then there’s nothing that can be done about it. I definitely need to ignore Brian White’s price targets because they’re always far too high.
Arnold, programmatic trading and profit taking will always knock the stock down a few dollars..but the trend is up…way up… barring
1. Serious war or terrorist action
2. The Fed raising interest rates
3. A scandal or serious security issue that involves Apple.
If you want to spend money that you make on AAPL stock, how do you think that you would go about it? The answer is to sell it. If you want the most money, you sell it when the stock is at a high and hopefully, there are a lot of buyers still. Reality is that as the price goes up, buyers drop off and the people who are trying to sell must lower their asking price. The stock price falls.
Oh, OK. The headline is of course absurd, seeing as the best the Watch could expect would be sales equal to the iPhone 5 and 6. But that’s not what the article is predicting:
we believe will prove to be the best selling new product in Apple’s history (within first 12 months).
THAT could happen. What fun.
These days it’s looking like in six months, AAPL will be $130. In a year, AAPL will be $130. That regardless of like a 40% jump in profits year-over-year. Wall Street is full of idiots.
I don’t think Wall Street is necessarily full of idiots but I do think they’re definitely crooked. It makes no sense if Apple meets conditions set by Wall Street and still falls in value.
Then the whole premise of actual company value being related to Wall Street value would have to be thrown away. That would be like a government printing money having no real backing value for certain individuals and that is indeed a scary proposition.
Someone could have said that when Apple hovered around $100 a share. It’s hovering around 130$ and when it goes up it will go to $150 and hover there.
The stock market is not the instantaneous reaping of rewards for a job well done. It’s a corrupt quagmire of measuring parameters that are nearly diametrically opposed to Apple’s.
Companies that do well owe something to whore street, or accomplish some parameters that whore street appreciates. Apple runs it’s own show, so while there is recognition of Apple, there is no respect. Kinda like when some countries decided they want to invade another one. They recognize it’s there, but they won’t respect it’s sovereignty, nor the UN for that matter. Just look at Russia and Crimea or the US and insert country name here.
Apple’s P/E has fallen below 16 and yet the company is showing greater weakness than companies with much higher multiples. Everything just seems so weird with Apple when looked at on a daily basis. Apple will be again be able to purchase shares at a lower price, so all is good but Apple’s share performance is just so unusual despite performing well when compared to peer tech companies.
Absolutely odd, Apple is so weird and different than its peer tech companies because Apple has so much cash hoarding and revenue shot to the moon every quarters. That’s why the market makers want a big bites or drooling into Apple-pies by aiming into Apple’s cash ($200B).
“Best selling new product ever”..
… to people who own an iPhone.