Consumer Electronics

Analyst Now Sees Apple Stock Rising to $600

Apple Inc. (NASDAQ: AAPL) was given new analyst coverage with a Buy rating this week and what felt like a ridiculous $777 price target. While we took a slight issue with that call, there is yet another upgrade taking place on Friday on Wall Street.

Evercore Partners has reiterated its Overweight rating on the stock, but the price target was raised to $600 from a prior target of $550. The move comes ahead of next week’s product release at its headquarters, which is expected to have more iPhone versions and perhaps other goodies.

Another call was seen Thursday, with Barclays reiterating its Overweight rating. Unfortunately for Apple upside stock fanboys, its price target is a mere $525. Other analyst calls have been made, but none have been extremely aggressive. Samsung’s new “one more thing” product launch this week was targeted to be ahead of Apple on the showcase and on the release dates.

Apple shares closed at $495.27 on Thursday and are indicated up around $499 in early Friday trading. If Evercore is correct, then Apple shares could have another 20% upside from current levels. Apple’s 52-week range is $385.10 to $705.07, and the consensus target price from Wall Street analysts was $533.59 before the impact of this call.

“The Next NVIDIA” Could Change Your Life

If you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.

The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”

Click here to download your FREE copy.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.