Apple Gets New $740 Analyst Price Target (AAPL)

Consumer Electronics

Published: March 20, 2012 7:41 am

Last Updated: April 27, 2020 4:17 pm

Apple Inc. (NASDAQ: AAPL) may have had a new street high price target on Monday of $750.00 per share, implying that the company was worth close to $700 billion. Now we have a new raised target that is right on the heels for the street high target. Stern Agee has reiterated its “Buy” rating this Tuesday and it has also raised its target up to a level of $740 a share from a prior target of $620 per share. Sterne Agee’s 2012 earnings estimate was raised to $43.80 per share from $43.30 per share.

The basis for the launch is that the new iPad sales have been far stronger than expected as the company recently announced the sale of 3 million iPads since the new product launch just a few days ago. Now a figure being thrown out there is potentially 60 million iPads rather than 55 million units this year.

Apple shares closed at $601.10 on Monday, a new record high. The current consensus price target objective from Wall Street analysts is now $627.04 and the current market capitalization rate on Apple is now above $560 billion.

JON C. OGG

Want to Retire Early? Start Here ^(Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.