UBS analyst Timothy Arcuri raised his price target on Apple Inc.’s stock to $235 from $225 on Monday, a day before the company is due to report fiscal third-quarter earnings.
He has a buy rating on the stock, which has risen 32% so far this year as the Dow Jones Industrial Average has climbed 17%.
MacDailyNews Take: As usual, we’ll bring you Apple’s results right around 4:30pm EDT on Tuesday and then cover Apple’s conference call with analysts with live notes starting at 5pm EDT.
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I’m already annoyed. Hearing Cramer say how “less than terrible results can propel Apple higher.” Why does Apple always have to be described in that manner? It gives the impression that Apple is not really doing all that well in terms of revenue and profits. I’m sure Apple is still seen as The iPhone Company and that means negative-growth to no-growth. Apple should be able to do much better than that if it’s sitting on a mountain of reserve cash. I’m not knocking Cramer as he’s trying to give Apple shareholders some hope. It’s Apple I’m peeved with for not embracing a cloud computing business instead of simply sitting back and letting their iPhone business tank. The “cloud” is driving all the major tech companies and Apple missed a major growth opportunity.