Apple Inc. (NASDAQ: AAPL) is already all over the news this morning after the stock blew apart its analyst earnings estimates. The consumer electronics giant also carries almost $100 billion in cash and securities as of now. There are two analyst calls which will stand out because they are among the most bullish of the most bullish. Canaccord Genuity has raised an already bullish target of $560 up to $650 due to iPhone, iPad, and Mac sales outperforming expectations on all fronts.
More important is the note on a dividend by Canaccord: “We anticipate another year of record cash generation. With Apple expected to cross $100B in cash during the March quarter, we believe this milestone might push Apple to announce a dividend.”
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Another even larger analyst target upgrade was over at Morgan Keegan. That firm took a $513 price target all the way up to $650 as well. We have seen a new $515 price target from Morgan Stanley as well. Citigroup took its price target to $600 from $500…
Before the earnings report we had a consensus price target of almost $515 and that is now going to be much higher after this week. The current figure shows a consensus above $516 but that is because so many of the fresh target price upgrades remain undercounted.
JON C. OGG
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