“Three positive analyst notes couldn’t stop shares of Apple from sliding with the broader market on Friday,” Teresa Rivas reports for Barron’s. “However, today’s weakness looks like a buying opportunity.”
“BMO Capital Markets analyst Tim Long, who recently took the reins from Keith Bachman, launched coverage of Apple with an Outperform rating and $145 price target,” Rivas reports. “BMO has long been bullish on Apple and so too has Barron’s, which named Apple one of its 10 favorite stocks for 2016.”
“With Apple down 2.6% to a recent $113.18, Long’s $145 target represents 28% upside, excluding dividends. Shares yield 1.8%… Elsewhere, Citigroup’s Jim Suva reiterated a Buy rating and $145 price target,” Rivas reports. “Finally, Stifel’s Aaron Rakers reiterated a Buy rating on Apple and $150 price target, the highest of the bunch.”
Read more in the full article here.
MacDailyNews Take: Apple’s stock price can do pretty much anything and certainly without rhyme or reason.
TGIF! Intern, tap that keg!!!
NO WAY!
with a PLUM correction going into 4th Q earnings, adjusted +- for BUN, now would be the time to buy!
Apple stock has liked to hover around pe of 15-16 in the past few years with occasional spikes and lows..
Just getting the market confidance up on sustainability of Apple revenue and earnings should get the PE back up to 15-16 ..and stock back up 25 to 30 % .. And then add some actual earnigs growth… 160 sounds reasonable . If not a lot higher .
The problem is markets psychology…
Imho for that to change Apple PR has to shift in to high gear and change the narrative.
But they probably dont want to do that …to help their buyback..
Just a theory ….
Its frustrating period to own the stock..
We shall see what unfolds.
Im in and hangin on …
apple needs to show big bib big money from apple pay,also, big, big, big money on car play. well over 5 billion each in profit per quarter.
And pigs could fly if they had wings. Apple stock is performing like Apple is a company that’s losing money on a daily basis. I would think there’s no way Apple is a profitable company based on Apple’s entire year share gains if I didn’t look at its balance sheet. It’s just crazy how Wall Street is run like a casino.
I realize Apple’s lower share pricing is good for the repurchasing of shares but it’s still somewhat frustrating to see Apple stock getting outperformed by stocks that shouldn’t be. The Dow has been relatively flat the whole year and Apple has only outperformed it by the tiniest of margins. It’s just crazy. I’m scared to think about what 2016 is going to do to Apple’s share price after watching this whole year go nowhere.
Nothing as it seems. The truth of the matter that we don’t know exactly behind the hidden pictures. There must be a reasons good or bad that Apple makes so much profits but the stock is stagnated compared to its peers. I am not going to speculate why, but will let you judge for yourselves.
AAPL market cap is about $111B lower than when they joined DJIA back in March. Not helping the image of either right now..