Munster Sees Apple (AAPL) Selling 122M iPads in '14, 176M in '15; Ups Price Target to $718
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Price: $169.89 +0.51%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Piper Jaffray's noted tech analyst Gene Munster Thursday became yet another analyst to jump on the raise-Apple's-price-target band wagon. Since unveiling the newest iPad last week, at least eight analyst firms have lifted their price targets on the stock.
Munster is modeling for Apple (Nasdaq: AAPL) to ship a jaw-dropping 122 million iPads during calendar year 2014 and some 176 million units during 2015. He believes Apple TV could add an extra 4 percent to Apple's annual sales. Munster expects Apple TV to be unveiled sometime during the end of this year.
The Piper analyst now expects Apple to report FY13 sales of about $189.5 billion, up from a previous estimate of $177 billion. The Street is currently expecting Apple to report FY13 sales of $183.5 billion.
Munster now expects Apple shares to rise to $718 over the next year, up from a prior target of $670. Munster reiterated an Overweight rating on Apple.
With the stock down 0.5 percent to $586.84 at last check, Munster's new target implies potential upside of about 22 percent.
To track all the analyst calls on shares of Apple, visit our Analyst Ratings page.
Munster is modeling for Apple (Nasdaq: AAPL) to ship a jaw-dropping 122 million iPads during calendar year 2014 and some 176 million units during 2015. He believes Apple TV could add an extra 4 percent to Apple's annual sales. Munster expects Apple TV to be unveiled sometime during the end of this year.
The Piper analyst now expects Apple to report FY13 sales of about $189.5 billion, up from a previous estimate of $177 billion. The Street is currently expecting Apple to report FY13 sales of $183.5 billion.
Munster now expects Apple shares to rise to $718 over the next year, up from a prior target of $670. Munster reiterated an Overweight rating on Apple.
With the stock down 0.5 percent to $586.84 at last check, Munster's new target implies potential upside of about 22 percent.
To track all the analyst calls on shares of Apple, visit our Analyst Ratings page.
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