Toni Sacconaghi gets over himself, raises Apple target $38 to $170

From TheFly, which snagged the note:

Bernstein analyst Toni Sacconaghi raised the firm’s price target on Apple to $170 from $132 and keeps a Market Perform rating on the shares. The analyst believes Apple benefited significantly from the pandemic, and sees risk of more muted earnings growth over the next few years.

Maintains Market Perform rating. Raises price target to $170 from $132. 

My take: Eager to see what he says now about being wrong for so long. I’ve asked to see the note. Wouldn’t be surprised if CNBC books him today.

12 Comments

  1. Greg Lippert said:
    Whhhhat???? Has H-E-double hockey sticks frozen over?

    3
    January 11, 2022
  2. Daniel Epstein said:
    Well I guess the bottom price is in. So if the percentage error is similar in this target from his previous target then we should easily see a stock price around 220 sometime in the next year. I would be happy with that.

    9
    January 11, 2022
  3. Romeo A Esparrago Jr said:
    Ha! Thought I saw a monkey fly by my window but it was only a bug.

    8
    January 11, 2022
  4. Jerry Doyle said:
    Toni raising Apple share price target to $170 means Apple is a $220 stock price. I make that statement because historically, Toni’s Apple price targets lag $50 behind.

    12
    January 11, 2022
    • Mordechai Beizer said:
      So you’re saying that Toni is an accurate forecaster as long as one applies the TAAF (Toni Apple Adjustment Factor).

      8
      January 11, 2022
  5. Robert Stack said:
    Hmmm…I wonder what Gregg would say about Toni’s latest comments? 🙂

    2
    January 11, 2022
    • Jerry Doyle said:
      @Robert Stack: “…. Hmmm…I wonder what Gregg would say about Toni’s latest comments?”

      Brother Gregg probably would say: “Short him!”

      0
      January 11, 2022
      • Robert Stack said:
        He’d probably also come up with yet another clever new moniker for Toni, e.g. “Sacco-coprolites!” (I did my best – look it up!)

        2
        January 11, 2022
  6. David Drinkwater said:
    Still wet, and far from indicative of what a twelve month price target should be. Might actually bother to read the article later.

    0
    January 11, 2022
  7. Kirk DeBernardi said:
    Maybe this will duly qualify him as “one to be ignored” from here on out.

    0
    January 11, 2022
  8. Rodney Avilla said:
    I would love to ask TS, what would have to change for you to give aapl a price target of $200?

    0
    January 11, 2022
  9. Steven Philips said:
    My take: I’d rather see the police book him than CNBC!

    4
    January 11, 2022

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