Apple’s stock price closed at a record high of $143.80 yesterday, and if you have been following the company lately, analysts keep raising their price targets for the iPhone maker. For example, UBS analyst Steven Milunovich, who previously had a $151 price target for Apple stock, now says it could rise to $200 in the next few years, reports CNBC.
That’s something an Apple analyst known for his iTV forecast (which didn’t materialize), Gene Munster, agrees to. While speaking on CNBC’s “Power Lunch”, he said:
“Our range is $180 to $200,” he said. Due to poor performance in the prior year, year-over-year comparisons “get so easy for them over the next few quarters — they go from 3 percent to 12 percent growth from now until September.”
He also highlights that we still need to wait another 171 days until the next-generation iPhone is announced. “You’ve got all the hype around the phone. It’s 171 days, most likely, until the next iPhone is released.”
So this leaves several months of “clear sailing for Apple investors”, he said. “Traders should think . . . this is the golden opportunity. Own it into the hype while the numbers get better, and probably trade it off once that phone gets announced.”
So, if you are planning to buy Apple stock, this could be the right moment, if you agree with these analysts. If not, well, there are another 171 days to enjoy the sunshine before bending over the screen of the latest Apple gadget.