Media
Jim Cramer Sees Highest Apple Earnings Targets of All Analysts (AAPL, BBY, XOM, MSFT)
Published:
Last Updated:
Jim Cramer has long been an Apple Inc. (NASDAQ: AAPL) bull. In fact, he’s been one of the most bullish voices on Steve Jobs regardless of all the potential pitfalls that the company has manged to cross. His thesis is that Apple is the best retailer out there. If you look through one of the few cautious statements from Best Buy Co. Inc. (NYSE: NYSE:) in this morning’s earnings report you will see that the company noted that Apple was one of the causes of some small market share losses that the company hopes to take back. Best Buy does retail Apple products, but the Best Buy floor is far less packed than the Apple stores.
On Tuesday night’s MAD MONEY on CNBC, Jim Cramer decided he wanted to be the highest ax as far as analyst earnings expectations. Cramer’s new target is $325.00 per share. With earnings consensus at $17.50 per share in earnings for the year, Cramer is at $22.00 per share in earnings for the year. His 14.8-times earnings estimate of the S&P 500 Index is how he came up with the $325.00 price target.
If you look at our own REAL TIME 500 of the real-time market caps of American titan companies, Apple is now the #2 stock by market cap behind #1 ExxonMobil Corp. (NYSE: XOM) by more than $60 billion in market cap, but it is worth almost $30 billion more than #3 Microsoft Corporation (NASDAQ: MSFT).
So now Cramer has the highest earnings estimate on the street. The problem is that he is far shy of being the highest price target. The mean target is $334+ and the highest price target is $400.00 on Apple. MarketWatch even has a video saying why Apple will be a $1,000 stock by the year 2015. The perma-bulls are hard to get rid of, and so far they have been right.
You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
