Analysts Cut Targets on Apple (AAPL) Into End of FQ1, But Massive Upside Still Expected

December 28, 2012 11:13 AM EST
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Apple (Nasdaq: AAPL) is well off of record highs hit last September and, more than investors, analysts are really getting on edge.

According to data compiled by Fortune today, eleven analysts have lowered their price target on Apple into the final weeks of its fiscal first-quarter 2013, which ends this weekend. As a testament to the strength in Apple, the target's a still well above current trading ranges.

Well above.

The average analyst price target on Apple is $740 over the next year or so. That is about 44 percent above today's trading range. According to data from other companies, analysts are currently 12 percent positive on Amazon (Nasdaq: AMZN), 13 percent bullish on Google (Nasdaq: GOOG), 39 percent above for AOL (NYSE: AOL), and 28 percent for Microsoft (Nasdaq: MSFT).

Even with one-off outliers like an $1,100 price target and $270 price target, most analysts are right in range. So, more than selling iPhones, iPads, iTunes, or any other i-product, investors should look for upside that 48 analysts on Wall Street expect.

Apple shares are down 0.5 percent Friday. To view the latest analyst moves on Apple, click here.

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