Thursday, May 24, 2012

Updated AAPL Price Estimates



DateAnalyst FirmRatingPrice EstimateCondition
05/24/12OppenheimerOutperform$680Price Decreased
05/21/12Goldman SachsConviction Buy$850Price Reiterated
05/21/12Piper JaffrayBuy$910Price Reiterated
05/18/12BMOOutperform$695Price Reiterated
05/15/12Stern AgeeBuy$780Price Increased
05/15/12Barclays CapitalBuy$750Price Reiterated
05/14/12Topeka CapitalBuy$1,111Price Reiterated
05/14/12Piper JaffrayBuy$910Price Reiterated
05/11/12Credit SuisseOutperform$750Price Increased
04/26/12Topeka CapitalBuy$1,111Price Increased
04/25/12AurigaBuy$700Price Reiterated
04/18/12Goldman SachsBuy$750Price Increased
04/09/12BTIGNeutral$600Downgrade
04/03/12Piper JaffrayBuy$910Price Increased
03/14/12Canaccord GenuityBuy$710Price Increased
03/14/12Morgan StanleyBest Ideas$720Rating/Price Increased


Price estimates generally refer to the expected stock price one year from the estimate date.

Oppenheimer cuts AAPL target price to $680

Analysts at Oppenheimer maintained their "Outperform" rating while decreasing their target price from $700 to $680. It isn't clear the reasoning on this change. Blog: http://www.dailypolitical.com/finance/stock-market/oppenheimer-cuts-price-target-on-apple-aapl.htm

Monday, May 21, 2012

Updated AAPL Price Estimates



DateAnalyst FirmRatingPrice EstimateCondition
05/21/12Goldman SachsConviction Buy$850Price Reiterated
05/21/12Piper JaffrayBuy$910Price Reiterated
05/18/12BMOOutperform$695Price Reiterated
05/15/12Stern AgeeBuy$780Price Increased
05/15/12Barclays CapitalBuy$750Price Reiterated
05/14/12Topeka CapitalBuy$1,111Price Reiterated
05/14/12Piper JaffrayBuy$910Price Reiterated
05/11/12Credit SuisseOutperform$750Price Increased
04/26/12Topeka CapitalBuy$1,111Price Increased
04/25/12AurigaBuy$700Price Reiterated
04/18/12Goldman SachsBuy$750Price Increased
04/09/12BTIGNeutral$600Downgrade
04/03/12Piper JaffrayBuy$910Price Increased
03/14/12Canaccord GenuityBuy$710Price Increased
03/14/12Morgan StanleyBest Ideas$720Rating/Price Increased


Price estimates generally refer to the expected stock price one year from the estimate date.

Goldman Sachs reiterates $850 price target

Goldman Sachs thinks the concern over possibly reduced subsidies for the iPhone are overblown in light of the competitive environment for offering the iPhone. They reiterated a $850 price target. ValueWalk: http://www.valuewalk.com/2012/05/goldman-positive-on-apple-inc-aapl-maintains-price-target-of-850/

Sunday, May 20, 2012

Updated AAPL Price Estimates



DateAnalyst FirmRatingPrice EstimateCondition
05/18/12BMOOutperform$695Price Reiterated
05/15/12Stern AgeeBuy$780Price Increased
05/15/12Barclays CapitalBuy$750Price Reiterated
05/14/12Topeka CapitalBuy$1,111Price Reiterated
05/14/12Piper JaffrayBuy$910Price Reiterated
05/11/12Credit SuisseOutperform$750Price Increased
04/26/12Topeka CapitalBuy$1,111Price Increased
04/25/12AurigaBuy$700Price Reiterated
04/18/12Goldman SachsBuy$750Price Increased
04/09/12BTIGNeutral$600Downgrade
04/03/12Piper JaffrayBuy$910Price Increased
03/14/12Canaccord GenuityBuy$710Price Increased
03/14/12Morgan StanleyBest Ideas$720Rating/Price Increased


Price estimates generally refer to the expected stock price one year from the estimate date.

Friday, May 18, 2012

Updated AAPL Price Estimates



DateAnalyst FirmRatingPrice EstimateCondition
05/18/12BMOOutperform$695Price Reiterated
05/15/12Stern AgeeBuy$780Price Increased
05/15/12Barclays CapitalBuy$750Price Reiterated
05/14/12Topeka CapitalBuy$1,111Price Reiterated
05/14/12Piper JaffrayBuy$910Price Reiterated
05/11/12Credit SuisseOutperform$750Price Increased
04/26/12Topeka CapitalBuy$1,111Price Increased
04/18/12Goldman SachsBuy$750Price Increased
04/03/12Piper JaffrayBuy$910Price Increased
03/14/12Canaccord GenuityBuy$710Price Increased
03/14/12Morgan StanleyBest Ideas$720Rating/Price Increased


Price estimates generally refer to the expected stock price one year from the estimate date.

BMO reiterates Outperform and $695 price target

With LTE on the way for the iPhone 5, the carrier subsidy reduction seems overblown. BMO reiterates an Outperform rating and $695 price target Barrons: http://blogs.barrons.com/techtraderdaily/2012/05/18/aapl-iphone-subsidy-cuts-tricky-says-bmo/

Tuesday, May 15, 2012

Stern Agee's Shaw Wu increases $780 price target

Additionally, Shaw Wu increased his Q3 EPS estimate to $10.16, at a time when AAPL is planning to pay a $2.65 quarterly dividend, leaving plenty of room for a dividend increase.

Barron's: http://blogs.barrons.com/techtraderdaily/2012/05/15/apple-sterne-agee-cuts-iphone-numbers-ups-estimates/

Updated AAPL Price Estimates



DateAnalyst FirmRatingPrice EstimateCondition
05/15/12Stern AgeeBuy$780Price Increased
05/15/12Barclays CapitalBuy$750Price Reiterated
05/14/12Topeka CapitalBuy$1,111Price Reiterated
05/14/12Piper JaffrayBuy$910Price Reiterated
05/11/12Credit SuisseOutperform$750Price Increased
04/26/12Topeka CapitalBuy$1,111Price Increased
04/18/12Goldman SachsBuy$750Price Increased
04/03/12Piper JaffrayBuy$910Price Increased
03/14/12Canaccord GenuityBuy$710Price Increased
03/14/12Morgan StanleyBest Ideas$720Rating/Price Increased


Price estimates generally refer to the expected stock price one year from the estimate date.

Barclays Capital reiterates $750 price target

Barclays Capital's Ben Reitzes reiterated a $750 price target with the expectation of new MacBook Air models in June.

From Barrons: http://blogs.barrons.com/techtraderdaily/2012/05/15/apple-barclays-sees-800-macbook-air-7-in-ipad/?mod=yahoobarrons

Monday, May 14, 2012

Updated AAPL Analyst Price Estimates



DateAnalyst FirmRatingPrice EstimateCondition
05/14/12Topeka CapitalBuy$1,111Price Reiterated
05/14/12Piper JaffrayBuy$910Price Reiterated
05/11/12Credit SuisseOutperform$750Price Increased
04/26/12Topeka CapitalBuy$1,111Price Increased
04/03/12Piper JaffrayBuy$910Price Increased
03/14/12Canaccord GenuityBuy$710Price Increased
03/14/12Morgan StanleyBest Ideas$720Price Increased


Price estimates generally refer to the expected stock price one year from the estimate date.

Topeka Capital and Piper Jaffray's reiterated their price targe

Top AAPL Bull's, Topeka Capital's Brian White and Piper Jaffray's Gene Muster, reiterated their price target for AAPL of $1,111 and $910, respectively. Barron's: http://blogs.barrons.com/techtraderdaily/2012/05/14/apple-weak-barometer-sales-in-april-but-fyq3-still-on-track-says-topeka/

Saturday, May 12, 2012

Updated AAPL Analyst Price Estimates



DateAnalyst FirmRatingPrice Estimate
05/11/12Credit SuisseOutperform$750
04/26/12Topeka CapitalBuy$1,111
04/03/12Piper JaffrayBuy$910
03/14/12Canaccord GenuityBuy$710
03/14/12Morgan StanleyBest Ideas$720


Price estimates generally refer to the expected stock price one year from the estimate date.

Credit Suisse reiterates Outperform and $750 price target

Credit Suisse's Kulbinder Garcha reiterated an Outperform rating and $750 price target, representing a 30.66% return from AAPL's current price of $574. While cutting iPhone and earnings estimate, Garcha still sees AAPL as a very attractive investment. See the article at Barron's here.

Monday, May 7, 2012

Valuing AAPL only on cash

CNNMoney published an article linking AAPL's stock price to it's cash value. Using the numbers from the balance sheet seems striking when you realize it's strong earnings growth from it's income statement. This would seem to undervalue the stock if it's earnings growth is not being factored into it's stock price. Either the stock price will rise to add this value or growth will decrease. I think Apple's growth will continue even at rates that should give the stock some lift. See the article here: http://tech.fortune.cnn.com/2012/05/07/the-market-values-apples-earnings-growth-at-0-00/?source=yahoo_quote

Friday, May 4, 2012

China becomes the number one smartphone market

Canalys research announced today that in the first quarter the Chinese smartphone market surpassed the US market. China represents 22% of the world-wide smartphone market, while the US represents just 16% of the 145 smartphones sold. Apple's CEO announced at the Q1 conference call that sales of iPhones increased 5X from the same quarter last year. While Samsung is the number one smartphone in China, Apple comes a close second.

An interesting point in this article is that there are a plethora of Android app stores leading to a fragmentation of the app market in China. Google Play is generally installed by default on most phones.

Research Link: http://www.canalys.com/newsroom/china-overtakes-us-largest-smart-phone-market