RBC ups Apple price target to $168

Quoting from a note to clients by RBC analyst Amit Daryanani, Philip Elmer-DeWitt reports for Apple 3.0:

AAPL has potential to achieve a $1.0 trillion dollar market cap and even surpass that over the next 12–18 months.

Assuming that the valuation framework remains stable, the ~$12+ EPS translates to a stock price of ~$192– 195 or a market cap exceeding $1 trillion.

Reiterate Outperform and raises price target to $168 from $157.

Read more fro Daryanani’s note in the full article here.

MacDailyNews Take: Just pass $890 billion, so we stop hearing from idiots about Microsoft’s inflation-adjusted market cap “record.” (Microsoft’s top market cap was $618.9 billion, set on December 30, 1999, right around the height of the dot-com bubble – in other words, it was irrational, not earned).

Apple current market cap record is $818.6 billion, set on May 8, 2017.

Analyst sees Apple’s market value at $1 trillion in a year – May 8, 2017
Apple’s path to first-ever $1 trillion market cap – March 7, 2017
Apple on track to become first ever $1 trillion company – February 17, 2017
Bernstein: Apple could be first to $1 trillion market value, propelled by services revenue – Cramer agrees – May 18, 2016
Apple would be worth $1 trillion if market valued it like Steve Jobs-run company – January 4, 2016
Analyst: How Apple’s market value hits $1 trillion in 2016 – November 10, 2015
Annual iPhone Upgrade Program could power Apple to become world’s first $1 trillion company – September 16, 2015
Analyst: Apple at $1 trillion in a year – May 11, 2015
Dream of $1 trillion valuation for Apple slips away – April 17, 2015
Second analyst sees Apple worth $1 trillion – April 17, 2015
Here’s how Apple gets to $1 trillion valuation in just 12 months – March 23, 2015
Apple eyes trillion-dollar market cap – February 24, 2015
Apple’s stock swoon just a blip on its way to being worth $1 trillion – December 2, 2014
Trillion-dollar baby: Can Apple go where company has gone before? – November 24, 2014
Is Apple about to be the first $1 trillion company? Carl Icahn says yes – November 18, 2014
Omega’s Einhorn: Apple’s market value could hit $1 trillion – November 18, 2014
Apple’s market value primed to go to $1 trillion, creating largest company in history – July 3, 2012
Apple at $1,111 per share with a $1 trillion market cap in the next year – April 26, 2012
Piper Jaffray ups Apple price target to $910; sees world’s first trillion-dollar market cap – April 3, 2012
How Apple can reach $2 trillion market value in 2016 – March 16, 2012
Apple: $1 trillion market cap inevitable? – February 21, 2012
Could Apple become world’s first trillion-dollar company? – January 28, 2012
Altucher: Apple will become a trillion-dollar company; $1,000 a share – May 3, 2011
Apple could become first $1 trillion company in as little as 36 months – April 14, 2011

[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]


  1. I have little interest in analyst price targets, except to the extent that they have some influence on overall investor sentiment.

    Over the years, I have observed analysts raising price targets after stock prices had already jumped upwards (often well past their previous price targets), and observed analysts lowering price targets after stock prices had already significantly dropped. In some ways, I view analyst predictions as a contrarian indicator for stock performance. Watch out when the majority of analysts jump on the bull train and start making overly optimistic predictions for revenue, profits, and stock price. Conversely, when the analysts, as a group, are pushing the bear button, it is time to take a second look at buying.

    I often have a pretty good feel for the near term trends of the overall market. But I am clueless in the age of Trump. My best guess is that the market is headed for some disappointments as the GOP leadership is forced to scale back some of its tax cut plans.

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