Apple faces big week with earnings, new product
Posted by: Phat^Trance in Other Apple News, Press releases, iPhone News
Apple Inc. is facing the culmination of months of rumors and speculation when it takes the stage in San Francisco next week to lift the wraps on what the company calls its “latest creation,” widely expected to be a touch-screen tablet device. Before that happens, however, the consumer-electronics maker will report results for the December quarter, which is expected to feature strong earnings growth driven by sales of iPhone and Mac products.
Analysts say that while the earnings report will be watched closely, all eyes will be on Apple’s event two days later.
“The excitement surrounding this event might overshadow Apple’s earnings report,” Kevin Dede of Jesup & Lamont wrote in a report Wednesday.
Investors have high expectations for the week. Apple shares peaked above the $215 mark this week–a fresh all-time high for the stock that already has more than doubled over the last year.
Wall Street thinks the stock will go even higher. The median price target on Apple shares right now is $250, and some analysts have gone as high as $280. The median implies an upside of nearly 20% from the stock’s current trading levels, and would represent a valuation of about 32 times estimated earnings for the coming year.
