RBC Says $525 is AAPL's New Target Share Price
On January 9th, MMi reported
that Goldman Sachs is keeping a buy rating on Apple (AAPL) shares with a new upside price target of $550, $30 higher from Goldman's previous target price of $520.
With shares of AAPL presently trading just south of $430, investment bank RBC is similarly getting on board the bullish train.
On Wednesday, RBC raised its price target for shares of Apple from $500 to $525 largely in response to strong anticipated iPhone sales and the solid fiscal pace set by the tech giant to start off the new year.
Analyst Mike Abramsky believes Apple will show $40.2 billion in revenue and $11.00 earnings per share next Tuesday when Apple reports its hotly anticipated earnings.
Abramsky thinks Apple sold 32 million iPhones in the December quarter, as “global checks indicate unprecedented iPhone sell-through, with stock-outs in multiple regions.”