toggle

AAPL Stock: 502.21 ( + 4.54 )

Bank of America boosts Apple target to $200

updated 10:20 am EST, Mon January 14, 2008

B. of America boosts Apple


An analyst with the Bank of America has raised his financial expectations for Apple based on sales figures, according to Thomson Financial. Scott Craig says that as a result of computer sales following the release of Mac OS X Leopard, he is raising his first-quarter earnings forecast from $1.52 per share to $1.60; revenue estimates, meanwhile, are being pushed from $9.3 billion to $9.6. For fiscal year 2008, Craig is predicting a growth of $5.04 per share instead of $4.87, and revenue of $31.7 billion versus $30.7 billion.

The stock is of course being given a "buy" rating, with an eventual price target set at $200. Craig argues that while the surrounding economy may fluctuate, Apple is "less likely" to be affected, due to diversified business, loyal customers and a swelling market share.


by MacNN Staff

print
email
(7)

TAGS :

 Investor, Apple

Related Articles

Recent Articles

toggle

Comments

  1. bobolicious

    Fresh-Faced Recruit

    Joined: Aug 2002

    0
    01/14, 10:28am | report spam | Reply |

    Amazing forecasting...

    ...given the stock has surpassed the $200 mark already... ...Do people really pay analyst fees for such advice...?

  1. eldarkus

    Fresh-Faced Recruit

    Joined: Feb 2004

    0
    01/14, 10:54am | report spam | Reply |

    @bobolicious

    Just because something has already hit $200 a share, doesn't mean it's going to go back! Sirius (SIRI) hit over $60 a share in 2000. it's now at less than $3 per share... :/

    to joe shmo, this means nothing.. but to the guy who can purchase 20,000 shares at a time, this is a big deal :)

  1. psdenno

    Fresh-Faced Recruit

    Joined: May 2003

    0
    01/14, 10:57am | report spam | Reply |

    I would like to predict..

    .... that yesterday it didn't rain in Palm Springs, CA.

  1. Constable Odo

    Fresh-Faced Recruit

    Joined: Aug 2007

    0
    01/14, 11:02am | report spam | Reply |

    Sirius isn't Apple...

    Thank goodness. I see where you're coming from, though. Still, BOA is only one of many that rate Apple's target price higher than $200. Apple will be hard pressed to reach it in a week's time.

  1. eldarkus

    Fresh-Faced Recruit

    Joined: Feb 2004

    0
    01/14, 11:19am | report spam | Reply |

    @constable odo

    I completely agree. But note that anything can take down Apple's share price. War, oil prices, bad tech sector, market outlook, job economy, etc... any number of factors could send it spiraling out of control!

    But if the outlook is good, it's going well beyond 200 a share!!

  1. Feathers

    Grizzled Veteran

    Joined: Oct 1999

    0
    01/14, 11:47am | report spam | Reply |

    diversified business?

    He can hardly describe Apple as diverse unless they've gone into pharmaceuticals and hotels and nobody noticed! They are solidly (and narrowly) consumer tech which is a capricious business at the best of times, just ask Sony, or more recently, Toshiba (or Microsoft for that matter)!

  1. notehead

    Fresh-Faced Recruit

    Joined: Aug 2001

    0
    01/15, 03:06pm | report spam | Reply |

    aaaaaand...

    we're down twelve bucks at the moment.

    But we'll be back up in a few weeks. I have no doubt of it.

Login Here

Not a member of the MacNN forums? Register now for free.

 
close
Photo
toggle

Network Headlines

toggle

Most Popular

10 Most Read

Recent Reviews

Powerbag Business Class Bag

Many companies currently offer battery packs and various accessories to keep smartphones and other gadgets charged when away from an o ...

Logitech Cube

The world of mice could often be described charitably as stagnant: it's an endless sea of ergonomic shapes that assume you're sitting ...

NewerTech and Targus USB Hubs For Gifts

A useful holiday present to resolve an ongoing frustration is a multi-port hub. Whether as a stocking stuffer, Chanukah present, or an ...

toggle

Most Commented

10 Most Discussed

 

Popular News