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.
Amazing forecasting...
01/14, 10:28am reply
...given the stock has surpassed the $200 mark already... ...Do people really pay analyst fees for such advice...?
bobolicious
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@bobolicious
01/14, 10:54am reply
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 :)
eldarkus
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I would like to predict..
01/14, 10:57am reply
.... that yesterday it didn't rain in Palm Springs, CA.
psdenno
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Sirius isn't Apple...
01/14, 11:02am reply
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.
Constable Odo
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@constable odo
01/14, 11:19am reply
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!!
eldarkus
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diversified business?
01/14, 11:47am reply
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)!
Feathers
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aaaaaand...
01/15, 03:06pm reply
we're down twelve bucks at the moment.
But we'll be back up in a few weeks. I have no doubt of it.
notehead
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