What Analysts & Traders Think of Apple Going Into WWDC
June 11, 2012 by Jon C. Ogg
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:
- 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
ALERT: Take This Retirement Quiz Now (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.