Apple Inc. (NASDAQ: AAPL) has two analyst calls this morning which are bullish but slightly less bullish than the call at the end of last week: Reiterated Buy with $460.00 price target objective by Argus; Maintained Conviction Buy List and target raised to $550 from $520 at Goldman Sachs.
Argus noted, “We look for revenue of $40.5 billion, or about 10% above the guidance of $37 billion issued in October. The published revenue consensus for the quarter is $38.2 billion. Although consensus estimates of product sales tend to be erratic and unreliable, to the best of our knowledge, we are being conservative on iPods, slightly conservative on iPads and iPhones, but somewhat aggressive on Macs. AAPL shares rose 26% in 2011, building on their multiyear outperformance. We believe that additional outperformance is ahead in the post-Jobs era, as the company rolls out its unstoppable quartet of products (and iTV too) across the globe.”
Late last week came word that Apple was reiterated as BUY with a $560 price target objective by Canaccord Genuity and the full summary of that more bullish call is here.
JON C. OGG
Contact [email protected] for any questions or corrections.
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