This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple's iPad, iPhone, Stock Soar: Tech Weekly

NEW YORK ( TheStreet) -- Another week goes by, and Apple (AAPL - Get Report) is again the talk of the town, with $1,000 price targets, new carriers and praise from Consumer Reports on the new iPad.

The news flow started to ramp up on Monday, when Consumer Reports put its stamp of approval on the new iPad. The organization said the tablet offers a "new benchmark in excellence, providing the best rendering of detail and color accuracy we've ever seen on a tablet display."

Consumer Reports was particularly positive about the iPad's screen, giving its highest score ever for color accuracy. "Colors are more saturated than on the iPad 2, making deeper shades more vibrant," it explained, in a statement. "The new iPad's screen lacks the slight bluish hue of the iPad 2's screen, and has a warmer and more natural 'color temperature' that becomes apparent when comparing white backgrounds displayed on the new and old iPads."

The new iPad's heat generation was also addressed. Consumer Reports noted that the "new iPad is warmer in its hottest spots than the iPad 2," but did not find that to be a cause for concern.

Apple was also the subject of several price target increases this week, with one analyst saying shares could reach $1,001 in the near future.

Brian White of Topeka Capital Markets initiated coverage on Apple with a buy rating, noting that "Apple fever is spreading like a wildfire around the world and we see no end in sight to this trend."

White noted Apple's continued expansion into higher-speed devices, such as the 4G Long Term Evolution (LTE) iPad, and the eventual LTE iPhone, continued expansion in China, and the launch of an Apple-branded television set as the primary reasons for share price appreciation.

On Tuesday, analysts at Piper Jaffray and J.P. Morgan also raised their price targets, as Apple shares rode the wave of positive analyst sentiment.

Piper Jaffray raised its price target to $910 from $718, and said Apple will be the first company to have a $1 trillion market cap.

"We believe shares of Apple will reach $1,000 in CY14, which would imply a roughly 1 trillion dollar market cap, the first in history," wrote Piper Jaffray analyst Gene Munster.

J.P. Morgan hiked its Apple price target to $715 from $625 as a result of better-than-expected sales activity for the iPhone and iPad.

> >> Bull or Bear? Vote in Our Poll
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
NTLS $9.25 0.00%
QCOM $50.52 0.00%
YHOO $36.60 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs