Apple 2.0

Covering the business that Steve Jobs built

The average Apple analyst's price target has fallen to $617

January 29, 2013: 5:55 AM ET

That's down from $740 a month ago

Chart: PED

Chart: PED

FORTUNE -- Wall Street engaged in a wholesale reevaluation of Apple's (AAPL) medium-term prospects last week following the company's Q1 2013 earnings report and Q2 guidance. Of the 36 analysts we polled, 33 lowered their price targets.

The new range, dropping any analyst who didn't respond, still covers a lot of ground. It travels all the way from $380 (submitted by Creative Global's Carlo Besenius, who's telling his clients to short the stock) to $880 (from Topeka's Brian White, who came down from $1,111 but still considers the stock a buy).

The new median estimate is $605. The average is $617, down nearly 17% from the survey we conducted just one month ago. The stock closed Monday at $449.83.

Below: The individual targets.

Click to enlarge. Data: Analysts' notes.

Click to enlarge. Data: Analysts' notes.

See also: One Apple analyst, 7 different price targets in 12 months

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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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