Apple 2.0

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Apple at $500: Look whose price targets are underwater now

August 15, 2013: 11:21 AM ET

Carl Icahn's $34 billion tweet has Apple analysts scrambling (again) to raise their targets.

Screen Shot 2013-08-15 at 11.02.58 AM

FORTUNE -- Two days after Carl Icahn tweeted that he had taken a "large position" in Apple (AAPL) -- driving the company's share price to as high as $504.25 and adding $33.5 billion to its market cap -- RBC Capital's Amit Daryanani raised his price target to $525 from $475.

That way he escaped being one of the dozen analysts whose predictions for where Apple's stock price will be this time next year are below today's opening price of $496.95.

This is hardly the first time the 12-month targets Apple analysts offer their clients have proved to be trailing -- rather than leading -- indicators.

See also:

Below the fold: The current state of our price target spreadsheet.

PTs 8:15:13

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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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