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AAPL Stock: 111.78 ( -0.87 )

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AAPL surges past $100, target at $140

updated 08:30 am EDT, Thu April 26, 2007

Analyst raised AAPL target

Apple's stock surged past $100 in post-market trading on Wednesday evening after the company announced record March quarter profits of $770 million. The company's stock was up nearly 8 percent to $102.89 in pre-market trading, according to the latest data with several analysts expected to raise their targets. Setting a $140 price target, analyst Gene Munster of Piper Jaffray noted that Apple reported 38 percent upside to analyst expected earnings-per-share (EPS) based on higher gross margins and that the company shipped 1.52 million Macs, ahead of the 1.45 million estimates. The firm believes that Apple is not at the peak of its EPS upside following the three strongest quarters in the company's history. The upside, Munster said, will be driven by three catalysts: the forthcoming iPhone, new product introductions expected in the June and September quarter -- which could include an video iPod, tablet Mac, or other new consumer product -- and continued Mac market share gains.

"To date, we have not seen any credible competitive threats in Apple's core markets (Zune is a flop in the MP3 space and Dell & HP have failed to deliver PCs that rival the Mac)," the analyst wrote in his early morning research note. "We believe that in the coming quarters Apple will hold its massive lead in portable audio and grow share in the personal computer market."

Munster raised his price target from $123 to $140.




by MacNN Staff

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Comments

  1. climacs

    Joined: Dec 1969

    0

    wheeeeeee!

    my only regret is that I didn't take out a 2nd mortgage to load up on AAPL when I bought at $9.50...

  1. vasic

    Joined: Dec 1969

    0

    Even at $90

    You could have taken out second mortgage two weeks ago and bought in at $90; you would have still cashed in big time. I just got in myself at $89 and am smiling all the way...

    The $140 target has already been floated by some professional AAPL watchers before (weeks ago). It's good that others are now seeing this as more-or-less certainty.

    Wheeeeee indeed!

  1. iChick

    Joined: Dec 1969

    0

    Split?

    A 2/1 would be nice....

  1. Gee4orce

    Joined: Dec 1969

    0

    Doh !

    I sold at $25.

  1. climacs

    Joined: Dec 1969

    0

    Re: split

    it will happen. Apple splits its stock when it reaches $100+ and stays there.

  1. Peter Bonte

    Joined: Dec 1969

    0

    $500

    I bought at $35 but holding on until it reaches $500. :)

    Apple has the potential to take on MS in the OS space and so much more, MS only has the potential to go down.

  1. Feathers

    Joined: Dec 1969

    0

    No negative spin?

    I'm sure the MacNN newsroom struggled really hard to try a put a negative spin on this until they found that they just couldn't. Wheee...good news for a change! I'm still surprised that they didn't insert a caveat that it was on after hours trading.

  1. rtbarry

    Joined: Dec 1969

    0

    another split...

    ...please ;-)

    daddy needs a new pool.

  1. notehead

    Joined: Dec 1969

    0

    Daddy

    h***, this daddy just became a daddy four months ago. So, daddy needs to start a college fund!!

  1. ThunkDifferent.com

    Joined: Dec 1969

    0

    Apple split.

    Apple stock could split, the Google SEO is on the Apple board and maybe a OS X Live could be in the works. You never know. http://thunkdifferent.com

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