Shares of Apple Inc. fell 1.1% in early morning trading, to extend their pullback from record highs to a second session, after Deutsche Bank analyst Jeriel Ong raised his price target, but cautioned investors “the stock is unlikely to come close to repeating last year’s returns” despite the belief that fundamental results are likely to be stronger than expected.
Ong raised his price target by 19% to $280, but that was 5.9% below Friday’s closing price of $297.43, as he reiterated his hold rating…
Meanwhile, J.P. Morgan analyst Samik Chatterjee reiterated his overweight rating, saying he believes there remains further upside in the stock despite the strong run up last year.
MacDailyNews Take: As usual, analysts are all over the map while trying to divine Apple’s future. Par for the course.