Apple stock hit a new all-time high in Monday morning trading and is in position to close at a record high early Monday as investors awaited the expected launch of a mixed-reality headset. Some analysts see the stock climbing even higher.
Anticipation ahead of Apple’s Worldwide Developers Conference, scheduled to begin Monday and run through Friday, is likely driving those gains. The company is expected to launch a virtual-reality and augmented-reality headset…
Investors will also be keen to hear anything the company has to say about AI, or its strategy around the technology, which has taken the market by storm in 2023.
Evercore ISI analysts see the stock climbing even higher, raising their target for the price to $210 from $190 after conducting a deep-dive research effort on the company. “Apple remains positioned to sustain mid-single digit sales and double-digit EPS (earnings per share) growth over [the] next several years with less volatility and high consistency,” they said, reiterating an Outperform rating.They said they expect Apple’s VR/AR offering will contribute $10 billion in sales and 20 cents to earnings per share, or around 4%, annually in five years.
MacDailyNews Take: Let the frenzy feed itself!
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News Apple highs on the horizon. Sounds absolutely wonderful.
Apple to surge on announcement but count on a big drop after dust settles for profit taking. Sale some at this all time high & buy back into the correction.
Media will be friendly to all things economic to help run election influence so safe to ride till 2024. But regardless of if hidden Biden or thump Trump wins the market will self destruct in 2025, war with China, Apple hurt most … from the future be certain all good things never last.
And we’re all going to die, too. Ho hum.