Apple 2.0

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How high can AAPL go?

April 21, 2010: 2:38 PM ET

Analysts scramble to raise their price targets after Tuesday's record Q2 earnings report

Hindsight is a wonderful thing, and after failing to predict Apple's (AAPL) performance in the quarter than ended March 27, all of Wall Street seemed to be looking at the company with new and more appreciative eyes.

More than two dozen analysts raised their price targets for Apple overnight, from as low as $240 to as high as $350.

The prize for the biggest jump goes to Macquarie's Phil Cusick, who went from $250 to $325, a 30% change of heart.

Below: Our full list. We'll add more as they come in.


Analyst New Old % Change
Chris Whitmore, Deutsche Bank $350 $325 7.7%
Mike Abramsky, RBC Capital $350 $275 27.3%
Vincent Rech, Societe Generale $350 $280 25.0%
Andy Hargreaves, Pacific Crest $330 $300 10.0%
Piter Misek, Canaccord Adams $325 $300 8.3%
Phil Cusick, Macquarie $325 $250 30.0%
Gene Munster, Piper Jaffray $323 $299 8.0%
Brian Marshall, Broadpoint Amtech $320 $280 14.3%
Richard Gardner, Citigroup $320 $300 6.7%
Doug Reid, Thomas Weisel $320 $300 6.7%
Yair Reiner, Oppenheimer $320 $285 12.3%
Mark Moskowitz, J.P. Morgan $316 $305 3.6%
Ben Reitzes, Barclays Capital $315 $300 5.0%
Shaw Wu, Kaufman Bros. $315 $305 3.3%
Bill Shope, Credit Suisse $315 $300 5.0%
Robert Cihra, Caris & Co. $310 $300 3.3%
Scott Craig, Merrill Lynch $300 $260 15.4%
Jeff Fidicaro, Susquehanna Financial $300 $275 9.1%
Toni Sacconaghi, Sanford Bernstein $300 $275 9.1%
Clyde Motevirgen, Standard & Poor $295 $270 9.3%
Keith Bachman, BMO Capital $290 $265 9.4%
Samuel Wilson, JMP Securities $290 $260 11.5%
Katy Huberty, Morgan Stanley $275 $250 10.0%
David Bailey, Goldman Sachs $270 $240 12.5%

. . . .

Clients who actually pay these analysts for investment advice would probably appreciate getting the benefit of all this before -- rather than after -- Apple's earnings reports. That way, they might have participated in the rally that sent Apple shares soaring over $260 Wednesday.

The stock closed at an all-time high of $259.22, up 14.63 points (5.98%) for the day.

For an up-to-date listing of analyst price targets, check out AAPLinvestors.net.

See also:

[Follow Philip Elmer-DeWitt on Twitter @philiped]

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About This Author
Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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