“Bank of America Merrill Lynch analyst Wamsi Mohan raised his target price [on Apple shares] to $220 from $180,” Beth Mellor reports for Bloomberg. “That’s the highest target price among analysts surveyed by Bloomberg.”
Mellor reports, “Harrison cited relatively tame demand for the iPhone, predicting shipments would grow less than 10 percent this year versus a consensus forecast of 11 percent.”
MacDailyNews Take: 10 percent growth is a so-called saturated market is hardly indicative of “tame demand.”
“‘In 2018, we remain bullish on potential for cash repatriation, lower tax rates, and the potential for positive estimate revisions heading into 2019,’ the analyst wrote in a note,” Mellor reports. “Apple’s fiscal first-quarter results, scheduled for Feb. 1, may provide clues as to the health of iPhone demand, particularly in the crucial Chinese market.”
Read more in the full article here.
MacDailyNews Take: Bank of America Merrill Lynch, we’ve heard of.
Apple stock slips as no-name analyst claims ‘lukewarm’ iPhone X demand – January 17, 2018
Hey, MDN: Perhaps it would be a good idea to go back over this entry and pull the information from the other story out of it – or, failing that, let people on this one know who “Harrison” is.
Lynch/America can KMA.
IfIf you do not like Lynch/America fine. iSay KMA TowerTone, & Get the FCK out of the country that iHappen to LOVE. Don’t let the door hit you in the ass.
Have a Grateful Day. AAPL holder since 1990.
What does where I live have to do with Merril Lynch/Bank of America?
That’s just an absolutely ridiculous price target for Apple. Apple shows no signs of getting anywhere close to that number. It’s struggling to barely reach $180 while Amazon and Boeing are going up in leaps and bounds with no end in sight. It’s just downright weird how certain companies P/Es continue to grow by many points a day while Apple’s P/E barely moves in an entire month.
I did have some hope that Apple would have conservatively reached $180 by the end of 2017, but even that never happened. Now that Amazon is being called to dwarf Apple in value this year, it seems even less likely Apple stock will move. Big investors aren’t going to waste their money on Apple when they can make far more money by investing in Amazon.
Boeing growing at much less rate has forward PE of 29 versus Apple forward PE of 14. Market Cap of BA less than Apple cash. BA valuation makes no sense.