Susquehanna on Tuesday raised its price target on Apple Inc. (AAPL) shares to $625 from $440. In addition, the firm upgraded Apple to a “positive” rating from “neutral.”
The firm said that better-than-expected sales of Apple’s new iPhone 5S and 5C models in the first weekend, which came in at 9 million, was the impetus behind the upgrade.
“The facts over the weekend indicated that AAPL’s new phone lineup was more successful than we and many others had expected,” wrote Susquehanna analyst Chris Caso. “Importantly, AAPL didn’t need to sacrifice margins in order to achieve this success, the current shortages provide a healthy backlog entering C4Q, and we think a China Mobile launch still lies ahead.”
Apple shares are currently up $4.40, or 0.9%, to $495.00 in premarket trade.
MacDailyNews Take: Looks like 9 million units in three days gets you religion real fast.
The real “Religion” litmus test will be when Eddie Zabitsky and Alex Guano change their tunes.
add glen yeung at citi to this list.
… and peter miser.
And when BLN grows one one the right side.
You see, these sales came as a surprise to us because we completely disregard the J.D. Power & Associates surveys of smartphone users that shows that 90% of iPhone users plan to buy another and that 35% of Android sufferers are planning on switching to the iPhone when they upgrade. We also forgot that no one is buying Blackberry’s phones and that some abysmally small number of people are buying Nokiashaft phones.
Bullshit
What a bunch of fools those Anal-ysts… And they do it now? Such none believers.
“The facts over the weekend indicated that AAPL’s new phone lineup was more successful than we and many others had expected”
Trying to spread them blame for being idiots themselves. So small.
“The facts over the weekend indicated that AAPL’s new phone lineup was more successful than we and many others had expected,”
Funny though a lot, many others, massive amounts of many others actually, in fact you could go so far to say that MILLIONS of people were expecting the new Apple phone to be successful. Not just the MILLIONS that bought them either. I guess they are not part of your ever circling circle of friends Susquehanna.
The facts over the weekend were well anticipated. It takes a special group of nimrods to expect otherwise, and certainly the analysts at Susquehanna deserved to be moved manipulator to moron status along with nearly every jouranalysts and analyst from whore street. I wonder if any of their jouranalysts have discovered where the new 64-chip has been made and designed yet? Someone’s written about it, on one of those sites where the commentators have more sense than the jouranalysts, not that it is particularly big challenge.
From $440 to $625… Just goes to show how far off the mark they were and I still think $625 is low.
You want to make real money? Forget Apple and buy LinkedIn. They’re really raking in the shareholder value. Up 116% YTD and up nearly $10 today. 9 million iPhones is a joke. Apple down 7.5% YTD. What company is doing the real innovation? Apple selling iPhones or LinkedIn turning resumes into gold.
/s
Compared to companies like LinkedIn, Netflix or Amazon, Apple shareholders don’t stand a chance of making much money at all. Apple’s weekend revenue jumped so high they had to report it to the SEC. All the hedge funds hate Apple and Tim Cook. End of story. Apple’s share price is likely to fade again once the initial excitement is over.
I’m making several bucks on each share 4 times a year..
Any analyst worthy of that title would have raised the estimates on AAPL BEFORE having that 9 million figure slap him up side his head.
700+ by february 2014.