“If the published price targets set by Apple analysts have any power to influence the stock’s day-to-day share price, it was not in evidence this week,” Philip Elmer-DeWitt reports for Fortune.
“By my count, 13 analysts raised their 12-month targets after Apple reported its second blockbuster quarter in a row,” P.E.D. reports. “Yet the stock immediately fell three days in a row, shaving $43.6 billion off Apple’s market value.”
“The bulls among the analysts are more bullish than ever. Led by Cantor Fitzgerald’s Brian White at $195 a share — the highest adjusted price target ever set for Apple — they raised the Street’s average target to $142.90,” P.E.D. reports. “The Berenberg bears are still bearish, but more quietly. Though he called Apple a “one-product company” and left his (deep underwater) $85 target in place, Berenberg’s Adnaan Ahmad did not reiterate it.”
Check out all of the latest AAPL price targets here.
MacDailyNews Take: When it comes to Apple, it’s stupefying that so many people can’t see the forest for trees.
[Thanks to MacDailyNews Readers “BD” and “David E.” for the heads up.]