Apple 2.0

Covering the business that Steve Jobs built

Look whose Apple price targets are underwater

April 30, 2013: 10:57 AM ET

Having rushed to lower their targets, some Apple analysts may have to reverse course.

FORTUNE -- When Apple (AAPL) touched $445.25 in early afternoon trading Tuesday, it did more than mark a $60.15 (15.6%) rise from its intraday low of $385.10 seven trading days earlier.

It also put Apple's stock price higher than the 12-month price targets of at least eight Wall Street analysts.

Four of those analysts -- Baird's William Power, BMO's Keith Bachman, Citi's Glen Yeung and Nomura's Stuart Jeffrey -- had lowered their price targets within the last week.

Three of them -- Creative Global Investing's Carlo Besenius, Berenberg's Adnaan Ahmad, and our old friend ACI's Ed Zabitsky -- are still advising clients to borrow Apple shares and sell them short.

How's that working out?

Screen Shot 2013-04-30 at 10.32.22 AM

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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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