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

Why Apple Is a Top 2014 Stock: Cantor Fitzgerald (Update 1)

Updated from 1 p.m. to include additional analysis in the fourth and fifth paragraphs.

NEW YORK (TheStreet) -- Apple (AAPL - Get Report) shares finished lower in the first trading day of 2014 but that doesn't mean some on Wall Street think the rest of the year will be negative.

Cantor Fitzgerald analyst Brian White, who rates Apple shares a "buy" with a $777 price target, called the iPad maker his "top large-cap pick" for 2014. White also covers Splunk (SPLK), Tableau Software (DATA) and several other companies for Cantor Fitzgerald. He noted that while 2013 was a year to forget, with a lousy stock performance for Apple amid concerns about innovation, 2014 will be much better.

"Our research suggests Apple has been working hard to excite investors in 2014 with new product innovations," White wrote in a note. "After a challenging stock performance in 2013 (up 5%) relative to the S&P 500 Index (up 30%) and the first EPS decline (FY:13 and CY:13E) in a decade, we estimate that Apple will return to growth in 2014, and we expect the stock price to reflect this improved performance."

White noted that when combined with the strength of his Apple Barometer, new products coming in 2014 and recent checks in Asia, Apple likely had a "strong holiday season." White is expecting Apple to unveil the oft-rumored iWatch sometime this year, and may even expand the iPhone lineup to a unit with multiple screen sizes. His checks indicate "the potential for up to three iPhone screen sizes with entry into the mega-sized smartphone category."

There have also been a slew of rumors in recent weeks that Apple would also build a larger, 12.9-inch iPad, dubbed the iPad Pro, to take on hybrid tablet/ultrabook devices that have started to come to market in recent months.

AAPL ChartAAPL data by YCharts

--Written by Chris Ciaccia in New York

>Contact by Email.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $124.75 -1.13%
FB $80.78 -1.86%
GOOG $524.05 -1.83%
TSLA $206.79 0.04%
YHOO $44.45 -2.91%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs