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RBC again raises price target on Apple stock to $645 on strength of share buybacks

post #1 of 17
Thread Starter 
With shares of Apple stock continuing to gain value, RBC Capital Markets has been prompted to raise its price target on the iPhone maker for the second time in as many weeks.




Analyst Amit Daryanani issued a note to investors on Monday revealing its new price target of $645, up from a previous forecast of $625. Following Apple's surprisingly strong second quarter results last month, Daryanani had already increased his target from $590.

The analyst's latest revision, which comes alongside a maintained rating of "outperform," is intended to reflect Apple's increased share buyback program and its recently raised debt to fund that initiative.

Daryanani expects Apple to repurchase some $44 billion in shares through December of 2015, implying more than $6 billion in buybacks per quarter. The newly increased buyback suggests Apple will buy an additional 50 million shares at an average price point of $590.




In addition to the higher price target, the analyst has also increased his fiscal year 2015 earnings per share estimate by more than a dollar to $48.96.

Daryanani recommends that investors remain long on AAPL, citing multiple catalysts ahead for the company. In particular, he expects the upcoming Worldwide Developers Conference in June, an anticipated "iPhone 6" launch around September, and a new iPad refresh in the December quarter to help drive the stock price higher.

Shares of Apple stock are trading at their highest levels in over a year following the company's strong second quarter, in which it announced its expanded capital reinvestment program, as well as a forthcoming 7-for-1 stock split. AAPL shares briefly flirted with a price north of $599 last week, but eventually retreated after finding resistance at the $600 barrier.
post #2 of 17
That's $92.14 post split.
post #3 of 17
Originally Posted by AppleInsider View Post
With shares of Apple stock continuing to gain value, RBC Capital Markets has been prompted to raise its price target on the iPhone maker for the second time in as many weeks. Analyst Amit Daryanani issued a note to investors on Monday revealing its new price target of $645…

 

And when the stock splits, the same guy will scream that Apple is doomed because it didn’t meet his target.

post #4 of 17

Things are looking up for Apple's share price and I'm definitely satisfied with the movement and increased dividends.  I'm not hoping for some outrageous price target and if Apple can maintain $600 for the next few months I'll have no complaints at all about what moves Tim Cook has done to raise Apple's share price to this level.  It certainly seemed for quite a long while, Apple's share price didn't move at all despite all those management moves.  I have a good feeling about the stock split and hope the psychological effect kicks in to entice mom and pop investors.  I've also noticed over the past couple of months, the institutional ownership (Google finance) jumped a couple of percentage points and that bodes well for shareholders.

 

Buybacks are nice but I'm still hoping for a major acquisition into mobile payments.  That would really have investors salivating over a juicy Apple.

post #5 of 17

Flirting with $600 again today. Currently near $598

post #6 of 17
Quote:
Originally Posted by Constable Odo View Post

Things are looking up for Apple's share price and I'm definitely satisfied with the movement and increased dividends.  I'm not hoping for some outrageous price target and if Apple can maintain $600 for the next few months I'll have no complaints at all about what moves Tim Cook has done to raise Apple's share price to this level.  It certainly seemed for quite a long while, Apple's share price didn't move at all despite all those management moves.  I have a good feeling about the stock split and hope the psychological effect kicks in to entice mom and pop investors.  I've also noticed over the past couple of months, the institutional ownership (Google finance) jumped a couple of percentage points and that bodes well for shareholders.

Buybacks are nice but I'm still hoping for a major acquisition into mobile payments.  That would really have investors salivating over a juicy Apple.

And credit to DED and PED for constantly fighting back against the pro Scamsung/Google media.
Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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post #7 of 17
A week before the last earnings call, my advior calls and says he thinks I should sell. Maybe buy back in later this year as they saw a decline coming. I told him I was happy riding out any sell off which I assumed might happen after the call.
Of course I'm glad I didn't get out, but at what point are you happy to take your profits and move on? I really think AAPL is a good investment for at least the next 12 months.
post #8 of 17
Quote:
Originally Posted by Tallest Skil View Post

And when the stock splits, the same guy will scream that Apple is doomed because it didn’t meet his target.

Haha... just got that ....
Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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post #9 of 17

Didn't RBC downgrade Apple when they hit $77?  Just because an analyst is bullish doesn't mean they aren't an idiot.

45 2a3 300b 211 845 833
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45 2a3 300b 211 845 833
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post #10 of 17
Quote:
Originally Posted by e1618978 View Post
 

Didn't RBC downgrade Apple when they hit $77?  Just because an analyst is bullish doesn't mean they aren't an idiot.

 

I remember a target of $30, because iPhone was a toy and obviously no match to a Blackberry for "real work".

Better than my Bose, better than my Skullcandy's, listening to Mozart through my LeBron James limited edition PowerBeats by Dre is almost as good as my Sennheisers.
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Better than my Bose, better than my Skullcandy's, listening to Mozart through my LeBron James limited edition PowerBeats by Dre is almost as good as my Sennheisers.
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post #11 of 17
Quote:
Originally Posted by lannoc View Post

A week before the last earnings call, my advior calls and says he thinks I should sell. Maybe buy back in later this year as they saw a decline coming. I told him I was happy riding out any sell off which I assumed might happen after the call.
Of course I'm glad I didn't get out, but at what point are you happy to take your profits and move on? I really think AAPL is a good investment for at least the next 12 months.

 

Fire him

post #12 of 17
As long as Tim cook buys his own goddamn stock the price can continue to rise. No sh** sherlock!
Ask the markets to pay each and every outstanding share of Apple's stock and listen as the markets tell you to kiss its a**!

Cook is reconciling a ponzi scheme by buying his own damn stock. Um, I thought the markets were suppose to cash you out. LOL!
Try unloading Apple's stock the regular way and watch the price fall like the preverbal brick.
By buying your own stock you ensure the price won't fall, per say.
But what the hell do I know, right.
post #13 of 17
Quote:
Originally Posted by Constable Odo View Post
 

Things are looking up for Apple's share price and I'm definitely satisfied with the movement and increased dividends.  I'm not hoping for some outrageous price target and if Apple can maintain $600 for the next few months I'll have no complaints at all about what moves Tim Cook has done to raise Apple's share price to this level.  It certainly seemed for quite a long while, Apple's share price didn't move at all despite all those management moves.  I have a good feeling about the stock split and hope the psychological effect kicks in to entice mom and pop investors.  I've also noticed over the past couple of months, the institutional ownership (Google finance) jumped a couple of percentage points and that bodes well for shareholders.

 

Buybacks are nice but I'm still hoping for a major acquisition into mobile payments.  That would really have investors salivating over a juicy Apple.

 

So are you going to take back, or apologize for the THOUSANDS of posts where you incessantly called for Tim Cook's head, demanding he be ousted from the company solely on the performance of the stock, and mocking, insulting, demeaning, and dragging him through the mud in every fucking thread? Are you going to say you were wrong, when you kept predicting that if Tim Cook stayed the stock would sink below $200? It's now on it's way to surpassing $600. That's the problem with people like you. You never hold yourself accountable for your own words, and you will never, EVER admit you were wrong, even after literally derailing hundreds of threads with your anti-Cook spam. People who have the gall to make such confident, repeated, over-zealous proclamations also tend never to have the humility to take them back. Maybe now you will stop giving "advice" to Apple, in terms of who to fire? Cook, and the management team at Apple- have proven themselves thousands of times over- unlike trolls like you. Now maybe apologize to this board for derailing every fucking thread asking for Tim's resignation- if you have a shred of credibility, and a shred of honesty, you would do that. 

post #14 of 17
Quote:
Originally Posted by maccherry View Post

But what the hell do I know, right.

 

Agree.

 

Also thanks for the many illuminating articles about Apple.

 

But.

 

How do we know that the rise is due to "strength of share buybacks?"  What indicates that is the reason?  Couldn't it be because investors are hearing more about new products coming up?  Or couldn't it be also because Apple's earnings rose?

 

It feels like, if Apple goes up, sometimes the reaction is "well that's just because of buybacks and financial engineering."  Well, no.  Apple is doing a great job of selling its stuff with many signs that new stuff is on the way.


Edited by 512ke - 5/5/14 at 1:28pm
post #15 of 17
Quote:
Originally Posted by maccherry View Post

As long as Tim cook buys his own goddamn stock the price can continue to rise. No sh** sherlock!
Ask the markets to pay each and every outstanding share of Apple's stock and listen as the markets tell you to kiss its a**!

Cook is reconciling a ponzi scheme by buying his own damn stock. Um, I thought the markets were suppose to cash you out. LOL!
Try unloading Apple's stock the regular way and watch the price fall like the preverbal brick.
By buying your own stock you ensure the price won't fall, per say.
But what the hell do I know, right.

 

At least the last sentence of your post was spot on. The rest of your post makes it clear you don't have a fucking clue how anything works. Apple buying back stock shows that they have confidence in their stock- and that it will rise, signaling confidence in investors. No company would buy back their stock if they suspected it would drop in the long term. That would be pissing money down the toilet. Apple buying their own stock meaning they're putting they $$ where their mouth is, in the fact that they believe its undervalued. Not that you can be expected to understand that. 

post #16 of 17
Quote:
Originally Posted by lannoc View Post

A week before the last earnings call, my advior calls and says he thinks I should sell. Maybe buy back in later this year as they saw a decline coming. I told him I was happy riding out any sell off which I assumed might happen after the call.
Of course I'm glad I didn't get out, but at what point are you happy to take your profits and move on? I really think AAPL is a good investment for at least the next 12 months.

Unless you want the money to retire, don't sell.
"If the young are not initiated into the village, they will burn it down just to feel its warmth."
- African proverb
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"If the young are not initiated into the village, they will burn it down just to feel its warmth."
- African proverb
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post #17 of 17
Quote:
Originally Posted by Slurpy View Post
 

 

At least the last sentence of your post was spot on. The rest of your post makes it clear you don't have a fucking clue how anything works. Apple buying back stock shows that they have confidence in their stock- and that it will rise, signaling confidence in investors. No company would buy back their stock if they suspected it would drop in the long term. That would be pissing money down the toilet. Apple buying their own stock meaning they're putting they $$ where their mouth is, in the fact that they believe its undervalued. Not that you can be expected to understand that. 

Especially a company like Apple who is tremendously, notoriously conservative with their war chest and has proclaimed during many-a conference call that their "money is not buying a hole in their pocket" and that they "like to keep their powder dry". 

Why does Apple bashing and trolling make people feel so good?

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Why does Apple bashing and trolling make people feel so good?

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