Analyst pushes AAPL target to $210
updated 04:10 pm EDT, Mon September 28, 2009
Additionally calls for $800 MacBook
Thomas Weisel analyst Doug Reid has raised his price target for Apple stock, shifting it from $180 to $210. The analyst cites "store checks" as an influence, indicating continued product demand; also important to the target are factors like higher anticipated IT sales, and China Unicom's iPhone deal. The latter is said to support beliefs that Apple could sell 24.9 million phones during FY2010.
A potential aid to stock value is thought to be cheaper MacBooks, which could launch for $800 to $900 within the next 30 to 45 days, according to Reid. The goal would be to boost holiday sales. Apple's rumored tablet device is meanwhile being forecast to debut as late as the second calendar quarter of 2010, in spite of some predictions that it could be announced in November 2009.
Revenue estimates are being cut back for FY09, to sit at $35.79 billion instead of $35.86 billion; EPS is holding still at $5.83. FY10 revenue predictions have been elevated from $42.22 billion to $42.37 billion, in turn pushing the possible EPS from $6.51 to $6.92. Tentative FY11 numbers include $8.41 in EPS on sales of $48.6 billion.
