Analysts Eyeing Record Highs for Apple's Stock Price, Rushing to Raise Price Targets
Analysts were sour on Apple last year, believing the company's stock would not climb over the $700 mark it crossed briefly in September 2012. Now with a 7-for-1 stock split and a continuing stock repurchase plan, this negative sentiment is changing with analysts revising their price targets for the again-hot stock, reports Fortune.
Table compiled by Fortune's Philip Elmer-DeWitt.
In recent weeks, analysts have adjusted their price targets by as much as 30 percent, with prices now ranging from a low of $87 from Morningstar's Brian Collelo up to a high of $124 from Stephen Turner of Hilliard Lyons. With the recent upgrades, the analysts' average price targets are now above Apple's all-time high once the stock split is accounted for.
As noted by BTIG's Walter Piecyk, some of this optimism stems from new U.S. carrier plans that will expand the number of customers eligible to upgrade to Apple's next generation iPhone and new leasing options that offer upgrades with a minimal upfront cost.
“Historically we estimate that ~20% of AT&T’s subscriber base was eligible for an upgrade during an iPhone launch quarter. That eligibility dropped to a low of the mid-teens in the second half of 2013 due to the stricter upgrade policies. We expect AT&T's new Mobile Share Value plan to increase the percentage of AT&T post-paid subscriber base eligible to upgrade to over 65% by the time the next iPhone launches. In absolute terms that is the difference between 10 or 11 million eligible for upgrades and 45-50 million.”
Wireless carriers in the U.S. have been modifying their consumer cellular and data plans, introducing no-contract options and new incentives that make it easier for customers to upgrade to new phones. Much of this change has been initiated by T-Mobile, which started its Uncarrier promotion in early 2013 with a no-contract Simple Choice plan that lets you pay for a phone in installments with a low upfront cost and early upgrades. Other carriers, such as AT&T, have followed suits with similar plans.
Popular Stories
Apple will adopt the same rear chassis manufacturing process for the iPhone SE 4 that it is using for the upcoming standard iPhone 16, claims a new rumor coming out of China. According to the Weibo-based leaker "Fixed Focus Digital," the backplate manufacturing process for the iPhone SE 4 is "exactly the same" as the standard model in Apple's upcoming iPhone 16 lineup, which is expected to...
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
A widespread system failure is currently affecting numerous Windows devices globally, causing critical boot failures across various industries, including banks, rail networks, airlines, retailers, broadcasters, healthcare, and many more sectors. The issue, manifesting as a Blue Screen of Death (BSOD), is preventing computers from starting up properly and forcing them into continuous recovery...
Israel-based mobile forensics company Cellebrite is unable to unlock iPhones running iOS 17.4 or later, according to leaked documents verified by 404 Media. The documents provide a rare glimpse into the capabilities of the company's mobile forensics tools and highlight the ongoing security improvements in Apple's latest devices. The leaked "Cellebrite iOS Support Matrix" obtained by 404 Media...
Apple is seemingly planning a rework of the Apple Watch lineup for 2024, according to a range of reports from over the past year. Here's everything we know so far. Apple is expected to continue to offer three different Apple Watch models in five casing sizes, but the various display sizes will allegedly grow by up to 12% and the casings will get taller. Based on all of the latest rumors,...
If you have an old Apple Watch and you're not sure what to do with it, a new product called TinyPod might be the answer. Priced at $79, the TinyPod is a silicone case with a built-in scroll wheel that houses the Apple Watch chassis. When an Apple Watch is placed inside the TinyPod, the click wheel on the case is able to be used to scroll through the Apple Watch interface. The feature works...
