Apple 2.0

Covering the business that Steve Jobs built

Apple price target roundup

June 17, 2012: 8:22 AM ET

Midway through 2012, the analysts' calls range from a low of $270 to a high of $1,200

Click to enlarge. Source: Posts at Eventide

FORTUNE -- Robert Paul Leitao, who runs the Braeburn Group of independent Apple (AAPL) analysts, published the 12-month price targets of 15 Braeburn members on his Posts at Eventide website Saturday. They range from a low of $700 to a high of $1,100, for an average of $890 a share.

How does that compare with the price targets of the analysts who cover Apple for Wall Street?

Frankly, considering that the professionals' targets range from a bizzarre $270 to a market-high $1,200, it's hard to tell who are the real pros and who the amateurs.

Thomson/First Call's consensus, based of a poll of 43 brokers, is $713.12.  That's 20% lower than the Braeburn Group's in part because First Call takes seriously that unnamed analyst who is convinced that Apple's share price is a bubble about to burst and collapse to $270.

We've been keeping our own spreadsheet, building on the work of AAPLInvestor's Terry Gregory, and we can name names.

The $270 price target comes from ACI's Ed Zabisky, who's been telling his clients since January to borrow Apple shares and sell them short -- a strategy that would have cost anyone who followed it a fortune.

On the other extreme, Stuart O'Gorman of Henderson Global thinks Apple is headed to $1,2oo -- $100 higher than the most bullish of the Braeburn independents.

The consensus among the 47 professionals analysts in our poll is $724. When their estimates are added to the Braeburn Group's, the average 12-month price target of all 62 Apple specialists comes to $753.

The stock closed Friday at $574.13

Below the fold: The two group's price targets. We'll find out next June whose were closest to the mark.

The Braeburn Group

Source: Posts at Eventide

The Professionals

Source: Apple 2.0 and AAPLInvestors.net

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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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