Wednesday, October 28, 2009

AAPL 12-Month Price Target: $300 Per Share

I’ve mentioned several times in the Apple Finance Board my 12-month AAPL price target of $300 per share. In addition to the unit sales projections for Apple’s first fiscal quarter I’ve previously posted here at Eventide, I expect the Apple retail stores to report an impressive improvement over last year in both retail store traffic and sales per square foot during this holiday quarter.

At $200 per share (or less) I see AAPL as a bargain. The release of the new iMac, the popularity of Apple’s laptop line and the continuing global rollout of the iPhone 3GS suggest record GAAP sales and earnings for the quarter and a further buildup of the deferred revenue balances that will be extinguished by the end of the fiscal year through recognition of almost all iPhone revenue at time of sale and a restatement of prior fiscal periods to substantially eliminate the impact of deferred revenue accounting.


  1. Recall what happen in Jan 06. Good fundamentals mean nothing when market collapses.

    aka Mace

  2. Mace:

    While the recent advances in equity prices are perhaps running a bit ahead of the economic recovery, I don't see signs indicating the danger of a potential market collapse.

    No doubt the overall market's movements will impact the share price of AAPL, the company's strong fundamentals and prospects for continued growth should make the shares attractive at today's price.

    I reiterate my 12-month price target of $300 per share.

  3. AAPL would hit $300 some time in 2010. However, technically AAPL is likely to decline to at least $178 (worse case $122) before rallying to that target.


  4. Mace:

    $178 wouldn't bother me. I don't see $122. I do see $300 within 12 months. I view AAPL undervalued based on non-GAAP eps as my anticipated rate of growth. The 1st fiscal quarter (the current quarter) is set to deliver record results for the Mac and iPhone maker.