Share of Apple are up 0.5% in Wednesday morning trading after RBC Capital Markets’ analyst Robert Muller boosted his Apple price target to $390 from $345.
“While Apple’s significant capital return program is well known by the market, we do not believe the market is giving enough credit for the financial impact (or, if it is, then organic growth is being understated, in our view),” he wrote. Muller estimates that if Apple sustains its current pace of about $70 billion in annual stock repurchases, it could see roughly 4% annual growth in earnings per share over the next few years even assuming that the company sees no organic growth. “What this implies, to us, is that the potential uplift from the upcoming 5G upgrade cycle is being discounted by the market…”
MacDailyNews Take: Obviously, given the slew of Apple price target increases and the stock price itself, there’s nothing better for Apple shareholders than a massive Black Swan-induced global recession and worldwide pandemic. Hey, whatever — this year we’ll take whatever good news we can get!
Apple stock price will hit 1400 dollars after trump leaves office. Gunboat diplomacy is dead. Not possible to make a group or people or country buy anything. Reason, respect, mutual grow is what is needed. Everybody, every country is the greatest in its peoples’ minds.
Plus trump is killing Americans. Interesting he holds these rally but makes people sign documents not to sue him is they get COVID, which he says is over. How stupid are you trump supporters? As long as Americans are fighting other Americans he is free to steal billions, 100’s of billions. A crook knows only how to be crooked even when he has the keys to the candy store.
And Trump is such a liar.
Besides BOB…he’s just Orange and we know what Orange is–don’t we?