Analyst raises his target on Apple's stock to $540 from $450
Apple's shares recently made a 52 week high above $404 after reporting strong Q3 earnings. But in the last week, the broad market has suffered from the political infighting that almost prevented the U.S. from reaching a new budget cap and which almost led to the U.S. defaulting on its debt. As it is, S&P downgraded U.S. debt after the close on Friday to AA+. Since Steve Jobs recaptured the CEO title, first on an interim basis from Gil Amelio on July 9th 1997, Apple's stock has risen 27 fold. Just 3 days ago, Apple was within $16 billion in market cap of surpassing oil giant ExxonMobile to be the world's most valuable company. Not bad for a firm that started in a garage.
1. Idontbuystock (unregistered)
I don't buy stock my friend lost over 50 grand on it and at the time he use to say that he could live on buying stock since he was so good with it well...
3. Droid_X_Doug (Posts: 5724; Member since: 22 Dec 2010)
$540 could happen in a few years. Right now there is a real risk of a double dip recession. Even Apple dropped back in late 2008 when the economy went into free-fall.