What Analysts & Traders Think of Apple Going Into WWDC

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Apple Inc. (NASDAQ: AAPL) has its Worldwide Developers Conference starting today and the stock is trading up 1.2% or $7.01 at $587.33 against a 52-week range of $310.50 to $644.00.  We wanted to share just what a snapshot of the company is to show the anticipated impact.  The impact is not that of an earnings report, but this is up $27.00 per share since just last Tuesday.  Here are the observations from analysts and traders for what is expected as far as Apple valuations from WWDC:

The consensus price target objective from Thomson Reuters is roughly $712.50, which implied a potential upside of roughly 21% from today’s share price.  Options traders have priced in a move of up to about $9.00 (plus-minus $1.00) per share going into this Friday’s options expiration date for the month of June.

Investors need to be aware of a few things on the stock chart for Apple.  First, the 50-day moving average is literally being violated today and that is $587.08.  While the market was tanking throughout May, Apple bottomed out at around $530.00.

Here are some other key issues to consider around Apple’s WWDC:

Stay tuned…

JON C. OGG