Apple breaks $228, closes above $225

And then there were eight. All the rest were underwater.

Below: My Apple price-target spreadsheet—as accurate and up-to-date as I can make it.* Corrections appreciated.

225 underwater

Click to enlarge.

My take: If all these analysts come back from the Hamptons, dust off their Apple models, and raise their price targets, won't that push the stock still higher?

BELOW: The top thirty all-time high closing price per share of AAPL. Dates in green indicate closing price was an all-time high at that time. Source: AAPLInvestors.net

*Re unnamed analyst: Long story. Too boring.

11 Comments

  1. Robert Paul Leitao said:
    Even at today’s closing price Apple is trading at only about 16.6 times the Street’s current consensus FY2019 earnings per share forecast of $13.56. In my view, the current consensus estimate is conservative.

    Analysts won’t model what they don’t think they can see. I expect a round of analyst upgrades following the September 12th event.

    To answer the question posed, I say “yes.” As price targets are raised particularly by analysts with current targets at $200 per share or less, it will positively influence the share price. Price target revisions will come with revised forward revenue and earnings estimates.

    The combination of anticipated strong iPhone demand in FY2019 and Services revenue growth in the 25%+ range will move estimates and the resulting price targets much higher.

    1
    August 31, 2018

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