apple stock

apple stock Analysts now widely expect a new device by mid- to-late-September. Despite the fact that Apple shares are rolling toward the $400 mark, most analysts covering the stock say it will go higher. A slew of brokers raised their price targets on the shares Wednesday following the report — pushing the median target price to $500 from $450. At $400, Apple shares would be valued at about 13 times estimated earnings for the next four quarters — less than half its 10-year average P/E multiple, according to FactSet Research. But the stock carries a premium to some large-cap technd is relatively even with Google /quotes/zigman/93888/quotes/nls/goog GOOG -0.95%

, which has become one of its key rivals in the smartphone market. At $500, Apple shares would trade around 16.6 times estimated earnings for the next four quarters. Brian Marshall of Gleacher & Co. noted that Apple will become “the largest-market-cap company on the planet” once the shares hit the $445 range, surpassing oil giant Exxon Mobil. “In our view, the Apple investment thesis continues to have ‘legs’ as the end markets they are attacking and gaining share in are large and growing,” wrote Marshall, who raised his price target to $500 from $450.

apple stock