Apple PT Raised to $650.00 (AAPL)
Research analysts at Stifel Nicolaus hoisted their price objective on shares of Apple (NASDAQ:AAPL) from $600.00 to $650.00 in a report released on Monday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 18.39% from the stock’s previous close.
The analysts wrote, “We believe investors should/will question how we should think about the true subscriber base legitimately positioned to upgrade to an iPhone and/or how many of China Mobile’s subscriber base is already using unlocked iPhones,” Rakers continued, “there have been questions surrounding China Mobile’s 3G subscriber base as it relates to full 3G data plan usage versus the extensive usage of China Mobile’s Wi-Fi (possibly a reasoning for Apple’s press release to also highlight China Mobile’s 4.2 million Wi-Fi access points – thus pointing out both the 1.2 million cell network coverage and Wi-Fi coverage quality networks to support the iPhone 5s/5c customers).”
Several other analysts have also recently commented on the stock. Analysts at Monness Crespi & Hardt raised their price target on shares of Apple from $560.00 to $605.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna upgraded shares of Apple to a “positive” rating in a research note to investors on Thursday. They now have a $650.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Apple from $600.00 to $615.00 in a research note to investors on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirty-seven have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $594.33.
Shares of Apple (NASDAQ:AAPL) traded up 2.89% on Monday, hitting $564.88. 7,967,142 shares of the company’s stock traded hands. Apple has a 52-week low of $385.10 and a 52-week high of $575.14. The stock has a 50-day moving average of $539.0 and a 200-day moving average of $484.0. The company has a market cap of $508.2 billion and a P/E ratio of 13.81.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, October 28th. The company reported $8.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $7.86 by $0.40. The company had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $36.84 billion. During the same quarter last year, the company posted $8.67 earnings per share. Apple’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Apple will post $43.61 earnings per share for the current fiscal year.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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