“Apple Inc.’s shares may have already soared more than 16% to fresh highs during the second quarter, but analysts are optimistic the stock has much more room to grow,” Jennifer Booton reports for MarketWatch.
“On Monday, RBC Capital Markets lifted its 12-month price target to $157 from $155 and reiterated an outperform rating,” Booton reports. “That would increase Apple’s market capitalization to $824 billion from $740 billion currently. Apple’s stock hit a record high of $144.77 on April 4.”
“RBC analyst Amit Daryanani also increased his March-quarter iPhone estimates and fiscal 2017 revenue estimates,” Booton reports. “Also on Monday, Mizuho Securities reiterated a buy rating and $150 target, saying it expects Apple earnings to be in-line or slightly above estimates when it reports after the bell on May 2.”
Read more in the full article here.
MacDailyNews Take: As usual, we plan to bring you Apple’s Q217 results as soon as they’re released, right around 4:30pm on May 2nd – just check our home page then. Following that, we also plan to cover Apple’s Q217 conference call with analysts starting at 5pm, also on May 2nd.