What Analysts & Traders Think of Apple Going Into 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:

• Here was a video showing changes coming to the iPhone.
• Gene Munster of Piper Jaffray previewed Apple TV around $2,000.00.
• Apple is running out of distribution sources in the U.S. as prepaid cell carriers take on the iPhone.
• Analysts have been talking Apple up ahead of WWDC.
• Tim Cook was interviewed ahead of WWDC.
• Apple leads the world’s top brands list.

Stay tuned…

JON C. OGG