Analyst: Thanks to the Apple iPad mini, Apple's stock target remains over $1,000

Analyst: Thanks to the Apple iPad mini, Apple's stock target remains over $1,000
Despite a 28% drop in Apple's stock since it hit an all-time high on September 21st, analyst Brian White of Topeka Capital not only remains bullish on the shares, he expects them to hit his target of $1,111. For Apple to hit his target, the stock will have to more than double from Friday's closing  price of $509.57. A lot of the analyst's bullishness stems from what he sees as strong demand for the Apple iPad mini in China and Hong Kong. On the mainland there are shortages of the 7.9 inch tablet while the Apple Stores in Hong Kong have been sold out of the device.

The old saying goes "buy on the rumor, sell on the news," and did that ever ring true for Apple. With the shares rallying on the expectations surrounding the launch of the Apple iPhone 5, the stock hit an all-time high of  $705 on September 21st which was the exact launch date for the 6th generation of the Apple iPhone. From that moment on, the stock has been in decline.

White's bullishness on the stock is based on fundamental analysis which revolves around the analyst's attempt to determine what Apple will earn in 2013 and beyond. Quite an imprecise science indeed. Meanwhile, most technical analysts, who look at the past movements of Apple shares to predict the future, are bearish on the stock and have been for the last $100 down. The stock has penetrated both the 50 and 200 day moving averages on the downside and most technicians say a close under $500 would lead to more selling.

source: Forbes

Related phones

iPad mini
  • Display 7.9 inches
    768 x 1024 pixels
  • Camera 5 MP (Single camera)
    1.2 MP front
  • Hardware Apple A5, 0.5GB RAM
  • Storage 64GB,
  • Battery 4440 mAh
  • OS iOS 9.x



33. rusticguy

Posts: 2828; Member since: Aug 11, 2012

Thanks to investors for not buying into this anytime soon ... some analyst has said it will go down below $300 :)

29. Aeires unregistered

Analysts have said AAPL would be $1000 by the end of the year. Two more days and it's not going to happen. $1,111 isn't going to happen either, regardless of how many stock owning tech writers pump up Apple in their articles. Let's face it, the only new devices Apple has rumored to be released on the horizon are watches and televisions. People won't buy an overpriced TV like they do with tablets, and OS watches are novelties, niche at best. AAPL might get back to $700, seriously doubt it will ever hit $1000.

30. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

I doubt there will be an iTV until Apple can negotiate content deals with the content providers. I would have expected leaks from at least a few content providers if any deal was imminent. But so far, nothing. An iWatch can leverage iTunes, but I just don't see how you sell volumes in the 10s of millions. Is everyone going to trade in what they are currently using for a watch for an iWatch? I don't think so.

37. Aeires unregistered

I can see them trying to couple iTV with iTunes, but not everyone likes iTunes so that'll be yet another iDevice that only the die hards will purchase. Not going to make their stock hit $1k by any stretch.

22. decnova

Posts: 2; Member since: Dec 06, 2012

It said apple will release ipad mini2. It said it's the same 7.9-inch space? So we can use the same case for ipad mini2? e.g the iPad MINI Protective Leather Rotary Case With Belt Buckle is case I love for my ipad mini on theideasforgift.

21. jsdechavez

Posts: 818; Member since: Jul 20, 2012

Lower, banker! Lower!

20. fanboy1974

Posts: 1345; Member since: Nov 12, 2011

Buying Apple stock is just not a good idea. Leaders in the technology sector change so fast I wouldn't be surprised if HTC or Motorola make a huge comeback. I still remember when Samsung had their crappy Droid Charge and I was never a fan of their original Galaxy S series. Today Samsung can't be stopped. And I was always a Windows Mobile and Palm guy back in the day. Today Palm is dead and Microsoft has less than 5% market share. The only thing saving Apple right now is their ecosystem of Apps and the fannbois that continue to buy their flashy goods. Take both away and Apple is nothing. Tim Cook is nothing but a placeholder in this field. He is living in Steve Jobs shadow and does not have what it takes to bring us the next big thing. Super thin desktop computers that are not meant to be portable,multiple iPad variations, iPhone "S" models and this rumored Apple TV will not do it. These analyst are smoking crack. Even if Apple stock hit $1000 a share what exactly does that mean to the huge number of people still buying Android phones over iPhones?

18. MetroPhase

Posts: 12; Member since: Nov 24, 2012

says analyst...nothing to see here folks

17. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

To paraphrase Judge Koh (this time to Brian White) - Are you smoking crack?

6. InspectorGadget80 unregistered

Analyst are a bunch of iturds. No one can't reach over 1,100$ in stock. And Apple stock are already down at 509.59 -5.47 (-1.06%

16. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

I think you are limiting your assessment of analysts - they are mostly wrong in their predictions. Apple may get to $1,000 in 20 years, when the market average is also at $1,000. What is missing is accountability - no one forces these mouthpieces to shut up when they are wrong, they are just voicing their opinion....

27. -box-

Posts: 3991; Member since: Jan 04, 2012

If they make it 20 years... Look at Kodak and Palm.

28. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

Quite true. And it is not as if they don't have a culture of arrogance. Unchecked arrogance inevitably becomes the route to downfall.

5. amiaq

Posts: 509; Member since: Jun 30, 2012

The only way for apple is downward spiral

4. neutralguy

Posts: 1152; Member since: Apr 30, 2012

Is he drunk or something? $1,111? What's the real difference between him and a fortune teller?

15. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

"What's the real difference between him and a fortune teller?" That he has hoodwinked a bunch of people to subscribe to his drivel and pay him waaaay more than his opinions are worth.

24. mambocream

Posts: 29; Member since: Jun 10, 2011

He probably convinced his wife to invest their life savings in Apple when it was $700 and he is hoping that saying that $1,111 crap will get people to buy it and bring the stock back up. It is a little cold to be sleeping in the dog house.

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