What Analysts & Traders Think of Apple Going Into WWDC
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…
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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
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
