“Consumer electronics giant Apple took a breather Friday, a day after it reached [an intraday] record high of 137.48,” Patrick Seitz reports for Investor’s Business Daily. “Apple, down slightly for much of the day, closed up 0.1% to 136.66 on the stock market today. Shares have risen 15% since they cleared a buy point of 118.12 out of a cup-with-handle base on Jan. 6.”
“BMO Capital Markets analyst Tim Long on Thursday become the latest analyst to hike his price target on Apple stock in anticipation that the company’s next iPhone, likely called the iPhone 8 and expected in September, will spark big sales,” Seitz reports. “He moved his target to $160 from $142 and maintained his outperform rating.”
“The iPhone 8 might cost over $1,000, some analysts speculate. It is expected to feature a borderless OLED display, glass sandwich design, wireless charging and no physical home button. It also is rumored to include 3D sensing for augmented reality apps and facial recognition for secure log-in,” Seitz reports. “In addition to the redesigned iPhone 8, Apple is widely expected to update its current generation LCD-screen handsets as the iPhone 7S series.”
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MacDailyNews Take: AAPL at $142.86 per share equals $1000 per share pre-split (2014’s 7:1 split).
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