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 "Virtuous Circle" Fuels More Love

CUPERTINO, Calif. ( TheStreet) -- Another day, another new Apple (AAPL - Get Report) price target, this time courtesy of Credit Suisse (CS), which cited the tech giant's strengths across PCs, tablets and smartphones.

"In a multi-device world, Apple is materially advantaged versus peers," explained Kulbinder Garcha, an analyst at Credit Suisse, in a note released on Thursday. The tech giant, he adds, has built a "virtuous circle of competitiveness" with its Macs, iPads and iPhones offering consumers an "unrivaled" computing experience and driving sales across its product portfolio.
Credit Suisse raised its Apple estimates and price target on Thursday.

Credit Suisse raised its Apple price target from $700 to $750 on Thursday. Citing higher iPhone volumes, the firm also hiked its Apple earnings estimates for 2012 and 2013 by 5% and 10%, respectively, to $50.14 a share and $60.72 a share.

Other analysts have highlighted Apple's so-called "halo" effect whereby consumers buy one product, such as Apple's iPod, and then graduate to other offerings, such as the iPhone, iPad and Mac.

Apple, which hit yet another new all-time high earlier this week, has ridden a wave of positive analyst sentiment recently. On Wednesday, for example, Sterne Agee raised its Apple price target to $750 and boosted earnings estimates, citing the instant success of the new iPad.

The Cupertino-Calif.-based company has already confirmed stellar demand for the third-generation iPad during its debut weekend last month. This momentum appears to be continuing, according to Sterne Agee's Shaw Wu.

"What we are picking up are strong follow-up demand trends for the new iPad despite a very strong start of 3 million units sold in the first few days," he explained, in the research note accompanying the price target hike.

"We believe this is likely because the new iPad is a significant upgrade with an HD retina display, quad-core graphics, and 4G LTE wireless. In addition, the price cut on the iPad 2 appears to be helping as well."

Sterne Agee raised its iPad forecast from 11.5 million to 12.3 million for the March quarter, and from 60 million to 63 million for calendar year 2012. For fiscal year 2012, the analyst firm hiked its revenue estimate from $160 billion to $161.2 billion, and its earnings forecast from $43.8 a share to $44.5 a share.
1 of 2

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 $94.27 -0.76%
FB $101.00 1.47%
GOOG $684.12 0.89%
TSLA $143.67 -3.09%
YHOO $27.10 1.04%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs