Apple bulls, including one who’s laid out a path to shares to reach $500, think the company’s long-term story remains as bright as ever, despite the obvious setback due to the COVID-19 coronavirus pandemic.
Yes, demand is likely to be soft for the next few quarters, as the economic downturn takes a toll… But the bulls still see the potential for dramatic gains, once the pandemic fades into history.
In a note issued over the weekend, Evercore ISI analyst Amit Daryanani reiterated his Outperform rating and $325 target price on Apple shares. He wrote that there is “plenty of upside ahead,” and laid out a path to a stock price of $500…
The bullish scenario includes an increase in Apple’s valuation to 27 times earnings per share for the coming 12 months, a level he says is in line with other consumer luxury-goods stocks.
MacDailyNews Take: Apple shares at $500? From Amit’s lips to Mr. Market’s ears!
Will luv to see AAPL is at $500 in the next 12 months. Cross fingers.
Lol, price target of $325, just what it’s high was before the pandemic.
Yes, but the sales, the market, needs to get back to that strength – specifically for Apple in this case – and that takes time. Once it gets close to being back, the stock should match that and move well past that mark.
You’ll need to cross all the fingers and make your body into a pretzel and it’s still not going to happen in 12 months.
I could see this happening once the “expert” panic inducers are arrested and jailed. Tony Fauci, Bill Gates, Ezekiel Emanuel, Deb Birx and the rest of the control freak totalitarians and mass media Goebbels in orange jumpsuits would be an easy +$200 for AAPL and a Godsend for America.
Don’t forget climate hysteria
Yeah! And all that other fact-based stuff.
So what have you got planned for the end of the world?
Apple is more likely to go to $5 if the US does not end the insanity of the national shutdown and the national love affair with social distancing. I don’t think much Apple stuff will be sold if 100 million people have no jobs and nobody is working except for government workers who will all be on full pay. Who wants to FaceTime with a population wearing masks and all alone in their rooms. I think America has turned so stupid in the last month we will be living in caves with no food. But we will all be listening for any scary news we can find to justify the total destruction of the US economy and the Constitution.
Did he happen to see where the price of oil ended today? Does he not know how that correlates to basic economics?
There are loads of other (undesirable) records—lows and highs—that make this 12mo prognostication stuff of dreams.
I think that price is unlikely in 24-36 months.
We are in the ‘08 #’s range and the “drops” aren’t complete, imo.
Let’s just pick another number out of the air. Apple could hit 2000 dollars a share.
Now let’s describe a path to that price.
Apple starts building gigawatt solar plants in USA, England, Germany, Spain, India, China, Brazil, Egypt, Nigeria, Ethiopia, France, Italy. Apple also start selling bottle water around the world. Apple builds a 30 mile diameter fresh water lakes in Algeria, Libya, Niger and starts farming production for wheat, corn, soybean, cotton. Apple starts building road, bridges, and dams.
Now let’s pick a time for this to happen:
72 – 120 months.
analyst : 🥳