Apple Inc. (NASDAQ: AAPL) is the darling of Wall Street and Main Street in America. If you go beyond the permanent loss of Steve Jobs and just look at the business and the consumer aspects of the company into 2012 and beyond, the questions are not really around whether or not Apple will stay relevant. The real question is “How much can it still grow?” The answers then depend upon whom you ask.
This morning came word that Morgan Keegan was lowering the estimates and target price based upon the new iPhone and iPad sales tracked during the holidays. The consensus price target is $513 rather than $530, but it iw important to note that this price target is actually above the consensus price target of almost $506 if you track the Thomson Reuters consensus data.
On the other side of the coin, Fortune labeled Apple as one of the best undervalued stocks for 2012. The stock was the sole holdover or repeat from the prior year of the ten stocks and the portfolio manager was incredibly bullish on the stock.
Apple is up 1.5% so far this morning at $411.00 and the 52-week range is $310.50 to $426.70. If today’s gains hold, that will mark six days back above the $400 handle after not having been there since the first week of November. So far the bullish take is winning.
JON C. OGG
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