A report came out in our analyst summaries this morning showing That Apple Inc. (NASDAQ: AAPL) had been raised to an “Outperform” from a “Neutral” rating and the new price target is $654.00 per share. It was titled as the ongoing “BULL OF THE DAY” in the report.
After a stellar first quarter, Zacks maintains that Apple is the greatest technology growth story with “its superior product pipeline, Apps, strong iCloud revenues, the upcoming iPad 3 update, loyal customer base and international expansion going forward.”
Even the legal complexities and competition in the iPad and iPhone segments do not interrupt the optimism over its success growing in developing markets as they have a growth in the middle class.
Apple shares are up 0.5% at $533.00 and the 52-week trading range is $310.50 to $548.21; Thomson Reuters has a consensus price target of $575.23 on Apple as of today.
JON C. OGG
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