“After months of declines in Apple’s stock, sentiment appears to be mending as investors focus on steady earnings expectations and bet that the expected launch of a new iPhone will add badly-needed fuel to sputtering sales,” Noel Randewich reports for Reuters.
“Apple shares have increased 5 percent in the past two weeks as Wall Street bets the company this month will launch a less expensive iPhone to boost sales in developing countries like China,” Randewich reports. “With U.S. consumers upgrading their smartphones less often, manufacturers have been relying on China for growth.”
“”‘Unless something big happens, (Apple) doesn’t deserve to trade at 20 to 25 times earnings anymore. It’s just too big,’ said David Meier, a portfolio manager at Motley Fool Funds. ‘But as a high-quality company, could it trade at 15 times earnings? Certainly,'” Randewich reports. “A target of 15 times its next 12 months’ expected earnings would put Apple at around $138.”
Read more in the full article here.
MacDailyNews Note: Apple’s all-time high of $134.54 was set on April 28, 2015.
Yeah, sure it could trade at 15X but it won’t. Wall Street and the news media will see to that. Day after day of slowing iPhone sales is all I hear. Apple is only valued for how many iPhones it sells and that’s about it. Talk about a one-trick pony. It’s really laughable how low Apple’s P/E is compared to other tech companies. Rejoice, Apple shareholders, the share price went up $0.09 today so all is well. Investors are really rushing in to buy Apple on the cheap. Good lawd.
AAPL at $200 a share believe it or not.
http://finance.yahoo.com/video/apple-poised-comeback-115200793.html?soc_src=default
I give a rat’s ass what WallNut Street thinks about ANYTHING because why?
They went insane. They’re still insane.
Apple thrives on.
WJ narrow minded anal-yst will once again look at the iPhone tree instead of the Apple forest…
Good lord, smell the coffee, go back to college, look out the window, retired… Bunch of crook!
Apple stock is down. No life because the anal-ists are fucking dumbshits!