“Sour green or red delicious? Analysts and traders are extremely far apart on shares of Apple,” Alex Rosenberg reports for CNBC. “Over the past six months, shares of the tech giant have fallen more than 25 percent, badly underperforming the S&P 500. And on Tuesday, Apple shares dipped below $96.”
“Meanwhile, analysts’ average price target on shares of the stock is $140, according to data provider FactSet,” Rosenberg reports. “Some, like Goldman Sachs, see the stock even higher; that bank’s analyst has a price target of $155. And Piper Jaffray’s well-regarded Gene Munster says the stock is going to $179, which would almost be a clean double from current levels.”
“Right now, the delta of the January 2017 140-strike call is 0.11, or 11. That implies an 11 percent chance that Apple will rise to or above $140 within a year,” Rosenberg reports. “When it comes to the world’s biggest public company, either traders or analysts are about to be proven dramatically, dramatically wrong.”
Read more in the full article here.
MacDailyNews Take:
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute. — William Feather
SEE ALSO:
Raymond James analyst sees Apple’s stock price stuck at $103 for a year – January 19, 2016
Most Apple traders are watching for prices over $100 – January 19, 2016
Growth funds dumping Apple stock on anticipated iPhone sales decline – January 16, 2016
Apple stock’s mini win streak threatened by market reversal – January 13, 2016
Apple could soon lose its place as world’s most valuable company to Google – January 13, 2016