Apple stock projected to hit $300 on strength of iPhone, Mac sales

Posted:
in General Discussion edited January 2014
Less than a week ahead of Apple's quarterly earnings report, two analysts increased their price target for the company's stock -- one to $299 and the other to $300.



Piper Jaffray



Though Apple's earnings won't be reported until April 20, the company tipped its hand last week when it revealed that it has shipped more than 50 million iPhones. That means that Apple sold at least 6.9 million iPhones in the March quarter, and likely many more.



Analyst Gene Munster with Piper Jaffray said Wednesday that he remains confident in his estimate of 7.5 million iPhones for the first quarter of calendar 2010. If Apple's "more than 50 million" total actually means 51 million, that would imply sales of 7.8 million iPhones in the March quarter.



Munster's estimate of 7.5 million would represent 93 percent year-over-year growth in iPhone sales. That's consistent with the 90 percent increase Apple saw last quarter.







Munster has also raised his estimate for Mac sales in the quarter to 2.9 million, up from 2.6 million. The analyst cited NPD data, which shows that retail sales of Macs are tracking up 39 percent year over year.



Munster expects Apple's stock to hit $299 in the next year -- up from his previous forecast of $287. Piper Jaffray has also maintained its overweight rating for AAPL stock.



Caris & Company



Analyst Robert Cihra expects Apple's stock to go a dollar higher than Munster, with a formal prediction of $300 issued to investors Wednesday. That's up from Cihra's previous price target of $260.



Cihra expects to see revenue of $12.5 billion and earnings per share of $2.70 when Apple reports its second financial quarter earnings next week. Those numbers are driven by an estimated 7.5 million iPhone sales, 3.1 million Mac sales and 41 percent gross margin.



Cihra has also increased his iPad sales estimates to 5.5 million in the 2010 calendar year, up from his prior prediction of 4.5 million. Cihra also expects the iPad to cannibalize iPod touch units, but at two to three times the average selling price, the iPad will produce three to four times more gross profit per unit.
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Comments

  • Reply 1 of 70
    SpamSandwichSpamSandwich Posts: 33,407member
    Oh, Apple. Is there anything you can't do? Sigh...
  • Reply 2 of 70
    cvaldes1831cvaldes1831 Posts: 1,832member
    Hey Steve, split the stock!



    Thanks!
  • Reply 3 of 70
    chronsterchronster Posts: 1,894member
    I told my dad to buy Apple stock when the first ipods came out lol. I always remind him of that.



    Anyone here buy in at that point? I bet you're fat and happy now
  • Reply 4 of 70
    Quote:
    Originally Posted by chronster View Post


    I told my dad to buy Apple stock when the first ipods came out lol. I always remind him of that.



    Anyone here buy in at that point? I bet you're fat and happy now



    Very happy! I bought in well before that. Profits on AAPL have more than paid for all the Apple products I have purchased.
  • Reply 5 of 70
    alanhalanh Posts: 75member
    Quote:
    Originally Posted by chronster View Post


    I told my dad to buy Apple stock when the first ipods came out lol. I always remind him of that.



    Anyone here buy in at that point? I bet you're fat and happy now



    I also bought 1000 shares back in 2004 when the stock price was $28. AAPL has split 2for1 since them making my effective cost $14 each. You do the Math!
  • Reply 6 of 70
    ilogicilogic Posts: 298member
    I think Apple will hit 450 some day.



    iLogic
  • Reply 7 of 70
    paxmanpaxman Posts: 4,729member
    Quote:
    Originally Posted by AlanH View Post


    I also bought 1000 shares back in 2004 when the stock price was $28. AAPL has split 2for1 since them making my effective cost $14 each. You do the Math!



    Nice. Way back when I had a 4400. The cheapest ugliest Apple computer ever. SJ was with Next and Apple was reduced to turning out cheapness. The only thing reported on Apple in those days was their imminent collapse. Every article started with 'the beleaguered Apple'. Yet I remember reading that in spite of all the gloom there were some 20 mil Mac users out there and I thought that with that kind of user base there was no way they would lie down and just die. If I'd had a few grand to spare I would have bought in then but I didn't so I didn't. I should have taken a loan!
  • Reply 8 of 70
    wingswings Posts: 261member
    Got 1000 AAPL when it was $44. I'm happy. Also, a year ago Jan I was sitting at the kitchen table going through the mail. There were several of those "0% Interest For 12 Months" credit card offers, totaling $55,000. Since AAPL was below $100 and I KNEW it couldn't do anything but go up from there, I cashed em all in and bought. Sold it a year later for over twice what I paid. Thanks, Capital One!
  • Reply 9 of 70
    Quote:
    Originally Posted by AlanH View Post


    I also bought 1000 shares back in 2004 when the stock price was $28. AAPL has split 2for1 since them making my effective cost $14 each. You do the Math!



    Did the math. I think you fit into the fat and happy category.
  • Reply 10 of 70
    maestro64maestro64 Posts: 5,043member
    Quote:
    Originally Posted by cvaldes1831 View Post


    Hey Steve, split the stock!



    Thanks!



    Will not happen, Apple has made it very clear they will not dilute the stock anymore if anything they may buy some back to continue to drive up share price.
  • Reply 11 of 70
    SpamSandwichSpamSandwich Posts: 33,407member
    Quote:
    Originally Posted by AlanH View Post


    I also bought 1000 shares back in 2004 when the stock price was $28. AAPL has split 2for1 since them making my effective cost $14 each. You do the Math!



    But did you hold, or did you ever sell?
  • Reply 12 of 70
    thomprthompr Posts: 1,521member
    Quote:
    Originally Posted by chronster View Post


    I told my dad to buy Apple stock when the first ipods came out lol. I always remind him of that.



    Anyone here buy in at that point? I bet you're fat and happy now



    I bought a thousand shares at $24.66, pre-split. Now have 2000 shares at a cost basis of $12.33 each. very happy.



    Thompson
  • Reply 13 of 70
    dr millmossdr millmoss Posts: 5,403member
    Quote:
    Originally Posted by Maestro64 View Post


    Will not happen, Apple has made it very clear they will not dilute the stock anymore if anything they may buy some back to continue to drive up share price.



    A split is not a dilution. In fact, it's nothing but a meaningless numbers game.



    Quote:
    Originally Posted by SpamSandwich View Post


    But did you hold, or did you ever sell?



    I won't say how much I hold, but put it this way: I placed what seemed like a fairly modest bet on AAPL in 1997. I still hold those shares (having bought and sold others since). My cost basis on the original purchase is under $4.00 a share. Some day I am going to owe the Tax Man a ton.
  • Reply 14 of 70
    jakebjakeb Posts: 562member
    I bought in at $80 right after the big market crash in 2008... I was feeling pretty smug until I read about you guys... $14? $4??? Wow.
  • Reply 15 of 70
    I don't think $300 is a very good estimate. $350 seems more appropriate. And that seems quite attainable by this year end.



    Have more than $400000 riding on AAPL
  • Reply 16 of 70
    monstrositymonstrosity Posts: 2,234member
    I love aapl. It makes me happy
  • Reply 17 of 70
    MacProMacPro Posts: 19,718member
    Quote:
    Originally Posted by cvaldes1831 View Post


    Hey Steve, split the stock!



    Thanks!



    Yes! Then get it to 500 after the split within two years please so I can retire happy.
  • Reply 18 of 70
    MacProMacPro Posts: 19,718member
    Quote:
    Originally Posted by Dr Millmoss View Post


    A split is not a dilution. In fact, it's nothing but a meaningless numbers game.







    I won't say how much I hold, but put it this way: I placed what seemed like a fairly modest bet on AAPL in 1997. I still hold those shares (having bought and sold others since). My cost basis on the original purchase is under $4.00 a share. Some day I am going to owe the Tax Man a ton.



    Well done there. I did it in 2000. I would love to see a massive tax bill one day too
  • Reply 19 of 70
    MacProMacPro Posts: 19,718member
    Quote:
    Originally Posted by Maestro64 View Post


    Will not happen, Apple has made it very clear they will not dilute the stock anymore if anything they may buy some back to continue to drive up share price.



    OK, whatever works



    ... hey what's with my post increments counter?



    p.s. I hate those aggregated responses hence I use individual ones to different folks. It doesn't waste paper people
  • Reply 20 of 70
    jmmxjmmx Posts: 341member
    Just wait until they announce plans for the new data center they are building in N.C. Then see what the stock will do!
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