Analyst: Apple will be worth at least $824 billion this year

“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.


  1. Amazon has a much better chance of reaching a $1T market cap faster than Apple. It’s a lot easier for companies with nosebleed P/Es. Amazon’s P/E is close to 185 and will just keep climbing. Apple will be very lucky to reach a P/E of 18. Apple will never have the value of a FANG stock and will probably easily get blown away by companies with far less revenue. Apple can’t seem to shake that no-growth perception whereas the FANG stocks are always seen as unlimited growth companies which can’t possibly fail.

    I think the only way Apple can overcome its no-growth perception is by acquiring some major company said to have unlimited growth. Why did Apple have to be the only major tech company not having an unlimited growth cloud business? Wall Street has endless love for cloud businesses and yet, dammit, Apple completely ignored that easy-grab opportunity.

    Apple reaching $150 doesn’t seem likely. Pray for $145 and hope it stays there for awhile. Meanwhile, the FANG stocks will easily continue their way to the stratosphere and beyond. Tim Cook doesn’t have what it takes to excite investors. He needs to take some lessons from Elon Musk.

  2. You have been a downer forever on AAPL, and you have been wrong forever on AAPL.
    I put my money where my mouth is, ignored ignorant naysayers like you, and have made a lot of money.

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