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Apple's stock target bumped up on hopes of "new products"

Posted: , by Michael H.

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Apple's stock target bumped up on hopes of
Apple's stock has taken a bit of a beating recently, and even a positive quarterly earnings call couldn't stop the trouble. Apple's stock was ridiculously overvalued for a while there ($700? come on now), and took a hit, but it has been making gains again, up 12% since it hit its low point last month. Now, Barclay's is raising its 12-month price target on Apple's stock on the expectation of "new products" this fall.

The price projections for Apple stock have been consistently on the decline since last September; but today, Barclays' Ben Reitzes finally has some optimism about Apple's stock. Reitzes has raised Apple's target price to $525 from the $465 valuation he set three weeks ago. Reitzes says the valuation has changed for a few reasons - the firm is optimistic about Apple's gross margins in the short term, it underestimated the value of Apple's recent buyback, and most interestingly:
We believe Apple is about to change the narrative and get investors, analysts, customers and the media finally talking about new products again -- starting with a software/services/Mac event on June 10th and a likely iPhone/iPad event in September.
It would certainly be interesting if Apple really does "change the narrative", but it seems like Apple has to have something secret on the way if that is going to happen. An iOS redesign is long overdue, and an iWatch may be interesting, but neither really leads to a new narrative. It will be interesting to see if Apple can come through on these expectations. The company has a history of being able to create buzz and excitement, but we haven't seen that since the unveiling of the original iPad, which was a full three years ago.

source: Fortune via BGR

34 Comments
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posted on 06 May 2013, 18:22 13

1. ElixieR (Posts: 14; Member since: 01 May 2013)


not interested....

posted on 06 May 2013, 18:29 10

2. darkkjedii (Posts: 10599; Member since: 05 Feb 2011)


Yes you are, that's why you clicked the article, read it scrolled down, pressed comment, and typed one. If you weren't interested you woulda just kept on to another article...stop fibbing.

posted on 06 May 2013, 18:30 8

3. Droiddoes (unregistered)


And? Who cares.

posted on 06 May 2013, 18:35 9

4. stealthd (Posts: 936; Member since: 12 Jun 2011)


You do, apparently.

posted on 06 May 2013, 18:40 6

5. darkkjedii (Posts: 10599; Member since: 05 Feb 2011)


You do droiddoesn't. See comment #2

posted on 06 May 2013, 18:40 6

6. InspectorGadget80 (Posts: 6267; Member since: 26 Mar 2011)


Do u mean the same rectangular products?

posted on 06 May 2013, 18:48 4

7. darkkjedii (Posts: 10599; Member since: 05 Feb 2011)


Them bouncing back is inevitable, if they get back to the lab, and drop some off the hook products.

posted on 06 May 2013, 20:38

14. Whateverman (Posts: 3189; Member since: 17 May 2009)


Yep! I honestly think they HAVE to if they want to stick around another 7 years. The iPhone WAS Steve Jobs, and all the magic was tied into his love for the device. You could see it in every sentence he spoke about it. Without him, I don't think it has much of a chance with all the new devices coming out now. Apple has to reinvent the iPhone or risk being the next Palm. At least as far as phones go. They can't be touched when it comes to desktops!

posted on 06 May 2013, 22:18 1

22. darkkjedii (Posts: 10599; Member since: 05 Feb 2011)


True post whateverman.

posted on 07 May 2013, 15:00

33. donfem (Posts: 522; Member since: 30 Mar 2011)


Aside from the "shape" what is revolutionary in the iphone? Considering there existed Sony prior to its claim?

posted on 06 May 2013, 21:13 1

16. alltechinside (Posts: 236; Member since: 21 Apr 2013)


Expect to see at least an iTV or iWatch. That can decide apple's fate with their stock. I'm really hoping for some revolution with TVs. There is just not that much content or potential with what the current Apple TVs , Google TV or anything else at the moment.

Having an iOS redesign is also welcome :)

posted on 06 May 2013, 21:38 1

17. mydi.maus (unregistered)


I CARE about apple.apple has something new coming i can feel it..lol

posted on 06 May 2013, 21:53 2

18. xperiaDROID (Posts: 5267; Member since: 08 Mar 2013)


I hope there will be a change, and new INNOVATION from Apple! I hope Apple won't make the same old design again! :O

posted on 06 May 2013, 21:59 2

19. Rehankhan (Posts: 323; Member since: 24 Oct 2012)


Go and play with your playstation kid you always make unnecessary comments

posted on 06 May 2013, 22:06 2

20. xperiaDROID (Posts: 5267; Member since: 08 Mar 2013)


Wow, I have a hater! Geez.......

First, you called me a 9 year old.
Now, you called me go and play my Playstation.

If you hate me, just say "I hate xperiaDROID!", no need call me a 9 year old or call me go and play my Playstation, I'm not your slave.

posted on 06 May 2013, 22:19 3

23. darkkjedii (Posts: 10599; Member since: 05 Feb 2011)


I like u Xperia lol

posted on 06 May 2013, 22:22 1

24. xperiaDROID (Posts: 5267; Member since: 08 Mar 2013)


Thanks Dark! :)

posted on 06 May 2013, 22:34 4

27. darkkjedii (Posts: 10599; Member since: 05 Feb 2011)


It's all good bro. Speak your mind never try to be part of the in crowd. I respect that

posted on 07 May 2013, 02:49

29. doubler86 (Posts: 318; Member since: 26 Jan 2011)


And I bet anyone there stock will drop again after their next announcement is a flop there profit margin goes down due to them only selling iPad minis instead of iPads and when Tim Cook gets fired before the end of the year.

Lets see who knows the mobile industry better shall we.

posted on 07 May 2013, 02:57

30. jibraihimi (Posts: 687; Member since: 29 Nov 2011)


I think in product category everybody seems to forget about Apple's smart Television, about which Steve Jobs spoke in his biography, and about which he said that they have nailed it down, last year every one was talking about it, but this year it seems that everybody has forgotten about it. Could this TV be the surprise package by apple this year............

posted on 07 May 2013, 15:03

34. donfem (Posts: 522; Member since: 30 Mar 2011)


Of what relevance is the "smart television" in the world of phones? What breakthroughs are we going to see in that field (t.v) that LG, Samsung, Sony and Sharp have not already come up with?

posted on 07 May 2013, 02:57

31. jibraihimi (Posts: 687; Member since: 29 Nov 2011)


I think in new product category everybody seems to forget about Apple's smart Television, about which Steve Jobs spoke in his biography, and about which he said that they have nailed it down, last year every one was talking about it, but this year it seems that everybody has forgotten about it. Could this TV be the surprise package by apple this year............

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