financial/investor
11/22/2004, 8:20am, EST
Monday, November 22nd
PiperJaffray increases AAPL target price to $100
PiperJaffray has increased its target price on AAPL stock from $52 to $100, nearly double the current stock. The analyst firm cited findings from its own survey of iPod users, according to CBSMarketWatch: "The $100 price target means the stock would trade at 37 times the broker's calendar 2006 earnings and cash estimate per share. 'While this multiple is a premium to the comp group, we believe it is warranted given the growth potential of the iPod and its carryover to the core Mac business,'" AAPL is more than percent, trading near $57 in pre-open Monday trading. Merrill Lynch, however, more guarded on the PC market, saying it expects 2005 PC unit growth to slow to 9 percent from growth of 12 percent in 2004.
Filed under: Investor
, 
, 4
, 
, 
, 
, 
, 
, 
Top
subscribe to comments
for this article
It's getting closer to its pre-crash price of $75
Maybe someone needs a Christmas bonus.
If you've been following the market for a while, this is not unusual. Insane? No. Rational? I don't think so either.