Following RBC Capital Markets analyst Robert Muller’s boosted price target on the stock to $390 from the previous $345, Apple’s shares (AAPL) saw a surge of 0.6% during today’s morning trading (via Market Watch).
“While Apple’s significant capital return program is well known by the market, we do not believe the market is giving enough credit for the financial impact (or, if it is, then organic growth is being understated, in our view),” Muller wrote.

The analyst predicts that if Apple sustains its current pace of about $70 billion in annual stock repurchases, it could see roughly 4% annual growth in earnings per share over the next few years, even if the company sees no organic growth.
“What this implies, to us, is that the potential uplift from the upcoming 5G upgrade cycle is being discounted by the market (in addition to recent robust Wearables and Services growth as well as any potential future product innovations),” wrote Muller, who has an outperform rating on the stock.
Apple shares have grown nearly 40% over the past three months with the Dow Jones Industrial Average DJIA increasing 24%.
Other articles in the category: News
iPhone 14 Emergency SOS via Satellite Feature Saves Two Stranded Travellers in B.C.
Apple's Emergency SOS via Satellite feature last month helped rescue two stranded travellers in British Columbia in what authorities said was the first known use of the feature in the province — reports the Prince George Citizen. Emergency SOS via Satellite is a safety feature available on Apple's latest iPhone 14 lineup. It lets users...
Apple Making Tools to Let People Easily Build AR Apps–with Siri? [Report]
Apple reportedly wants an easy way for people to build augmented reality apps, that might even be assisted by the company’s Siri voice assistant, reports The Information. Unnamed sources say Apple plans to let Siri build an AR app when asked through its upcoming mixed-reality headset. These apps would then be able to submit to […]
Apple Using Tencent’s Blacklist to Block Websites in Hong Kong
According to a report by The Intercept, Apple is using Chinese company Tencent’s blacklist to block access to certain websites via Safari in Hong Kong. Last month, Apple users in Hong Kong trying to access the code-sharing website GitLab were presented with a warning that says the website is being blocked for their own safety. Safari’s “safe...