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

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:
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

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34 Comments

1. ElixieR

Posts: 67; Member since: May 01, 2013

not interested....

2. darkkjedii

Posts: 30833; Member since: Feb 05, 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.

3. Droiddoes unregistered

And? Who cares.

4. stealthd unregistered

You do, apparently.

5. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

You do droiddoesn't. See comment #2

6. InspectorGadget80 unregistered

Do u mean the same rectangular products?

7. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

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

14. Whateverman

Posts: 3295; Member since: May 17, 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!

22. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

True post whateverman.

33. donfem

Posts: 708; Member since: Mar 30, 2011

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

16. alltechinside

Posts: 248; Member since: Apr 21, 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 :)

17. mydi.maus unregistered

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

18. xperiaDROID

Posts: 5629; Member since: Mar 08, 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

19. Rehankhan

Posts: 323; Member since: Oct 24, 2012

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

20. xperiaDROID

Posts: 5629; Member since: Mar 08, 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.

23. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

I like u Xperia lol

24. xperiaDROID

Posts: 5629; Member since: Mar 08, 2013

Thanks Dark! :)

27. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

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

29. doubler86

Posts: 320; Member since: Jan 26, 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.

30. jibraihimi

Posts: 800; Member since: Nov 29, 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............

34. donfem

Posts: 708; Member since: Mar 30, 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?

31. jibraihimi

Posts: 800; Member since: Nov 29, 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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