AAPL Stock: 118.88 ( + 1.13 )

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JP Morgan raises Apple stock target to $230

updated 10:30 am EST, Mon December 14, 2009

Analyst cites high growth momentum

JP Morgan analyst Mark Moskowitz has raised his price target for Apple stock from $220 to $230, according to Reuters. The adjustment is based on better growth than anticipated for Macs, iPhones and iPods. Industry contacts reached by Moskowitz suggest that Mac shipments in particular have improved during the past two weeks; Apple is now expected to ship 3.29 million computers during the December quarter, instead of 3.17 million.

The Mac sales are said to be unusually strong given that the September quarter was driven by built-up demand relieved by product refreshes.

Moskowitz is meanwhile raising his iPhone estimates 8 percent to 8.18 million, shrinking iPod numbers down from 21.97 million to 21.62 million. Stock value is expected to be influenced in coming weeks by speculation over the next American iPhone carrier, which could be either Verizon or T-Mobile. Apple does not absolutely need Verizon during 2010, Moskowitz argues, because the iPhone is still working its way into markets like China and South Korea. "A move to Verizon could be a longer-term catalyst to underpin growth two to three years out," the analyst notes.

by MacNN Staff




  1. Constable Odo

    Joined: Dec 1969


    It's rather amazing that this stock

    continues to be pumped up by analysts, yet it has basically traded sideways to down for weeks. Investors must be waiting for earnings results. You'd figure upwards momentum would be a lock considering this is always Apple's best quarter. Apple is likely to sell at least 10 million iPhones this quarter. Too bad China Unicom messed up and scared off a lot of investors.

  1. testudo

    Joined: Dec 1969


    Re: amazing

    But by this point, the current price would already be taking into account Apple's current quarter numbers. Unless the guesstimates really push up higher, you'd have to think $195 is where it will stay until mid January, when the late comers start putting money in for a quick grasp for cash.

    Although the end of the year is always hard to judge, what with mutual funds buying and selling in order to help push their year-end numbers upwards somewhat by manipulating the markets.

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