Analyst raises target on Apple based on bullish call on Apple iPhone 5 and Apple iPad mini

Analyst raises target on Apple based on bullish call on Apple iPhone 5 and Apple iPad mini
Investors who have been sitting with Apple shares for a while have made some serious money with the stock. Apple's shares closed on Tuesday at $674.97 and if Wedbush analyst Scott Sutherland is right, the stock has more upside ahead. Sutherland raised his target on the stock to $885 from $800 citing his belief that Apple will sell 24.1 million units of its smartphone in  the September quarter, up from his previous forecast of 21.6 million phones that will be sold. Sutherland says that he thinks that the 6th generation of the iPhone will support LTE which he sees as a huge selling point. Additionally, Wedbush's Mobile Device Survey in July found 35% of respondents are planning on purchasing the Apple iPhone 5 while no other phone scored higher than 20%. Sutherland says his call for 24.1 million units of the iPhone 5 to be sold in the quarter could be too conservative. Apple has made official the long rumored September 12th event at which the Apple iPhone 5 will be introduced.

The analyst also belongs to the camp that believes that the Cupertino based firm will also introduce the 7.85 inch Apple iPad mini later on this year, in the fall. He raised his estimate of iPad sales for Fiscal Year 213 to 94.2 million from 90.8 million, but lowered his average selling price to take care of the lower selling price expected for the mini version of the tablet.

For Apple's 2013 Fiscal Year, he sees the company earning $44.05 a share, up from  his prior estimate of $43.68. His revised Fiscal 2014 profit is $52.60, up from $52.49. The analyst is keeping his "Outperform" rating on the stock.

source: Forbes

Apple's stock in the last year

Apple's stock in the last year


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17 Comments

1. theBankRobber

Posts: 682; Member since: Sep 22, 2011

If I had invested money in apple back when the 1st iPod came, I would be sitting on stacks of money also lol. But instead I got a girlfriend and got a car and, well ,here I am lmao.

2. androidornothing

Posts: 143; Member since: Apr 26, 2012

Finally best phone in the world is gonna be released!!!!! I cant wait to go stand in line for 20 hours. This is gonna be revolutionary. I cant wait to get rid of my sexy Galaxy S3 which runs laps around even the iPhone 7 and get this new iPhone. Ohhhhhhhhhhhhhh this is gonna be goood!!!! Cant wait!! Lmaoooo

3. theBankRobber

Posts: 682; Member since: Sep 22, 2011

Haha lol that's funny stuff, iPhone 7. Come on dont get the ifans hyped up with more mock ups and there opinions . Its like 5 a day for the past month now.

4. Berzerk000

Posts: 4275; Member since: Jun 26, 2011

I never got the concept of that standing in line for hours thing... It's kind of pointless. "OMG bro I waited like 15 hours in front of the Apple store to get my new 4S!" "Whoa bro, you're so hardcore. I wish I was as awesome as you. I just ordered mine online, and I got it just a day later than you. I'm such a disgrace." Yeah, I doubt those conversations happen as often as people think they do...

7. E.N.

Posts: 2610; Member since: Jan 25, 2009

don't people wait in line for Android smartphones too? I could've sworn..... But I think the reasoning is that if you don't buy it right away or weren't able to pre-order online, you'll end up having to deal with out of stock and backordering and waiting weeks to months. AT&T customers were pissing all over the internet when their preordered GSIII ship date kept being pushed back, even if it was only two days for some. People are impatient.

8. ftyler223

Posts: 140; Member since: Aug 06, 2012

ya your s3 with build quality issues, and low ppi, and all your steps you have to take to make a simple folder....ya thats so great let me tell you. shut up!

16. CanYouSeeTheLight

Posts: 1122; Member since: Jul 05, 2012

Excuse me Sir, but the Galaxy S3 isn't sexy at all.

5. Angkor

Posts: 108; Member since: Jul 05, 2012

Apple is very stingy to American consumers made cheap products in China and sale high prices in America.

6. darkkjedii

Posts: 30885; Member since: Feb 05, 2011

Who doesn't that n some way. All companies build cheap and sell high. U jus said nothing about apple that every company that ever existed didnt do lol. Wowwww

9. itreday

Posts: 68; Member since: May 24, 2012

Cant wait! Selling 4S and getting this one on release date!

13. ftyler223

Posts: 140; Member since: Aug 06, 2012

And theres literally an app for everyhing you just pointed out so shut up

15. androidornothing

Posts: 143; Member since: Apr 26, 2012

My point is dont say anything about the S3 because it will rape the iPhone 5, 5s, 6, 6s, 7, 7s and all the way up to the 10th iphone.

17. ftyler223

Posts: 140; Member since: Aug 06, 2012

The s3 sucks shut up. Iphone is better. Go to brookstone and buy the hoover craft they have and try to control it with your s3. Doesnt work i got that all day on my iphone. The iphone can do more dude. And s3 is all specs. Theres the one x always here s**t on the s3 in that stupid little game.

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