FORTUNE -- Like Apple's (AAPL) shares, the price targets analysts set for the company have been on a jagged downward slide since last September. Until Monday, that is.
That's when Barclays' Ben Reitzes broke the streak and upped his 12-month target to $525 from the $465 valuation he set three weeks ago, just before Apple's March quarter earnings call.
"We believe the near-term set up is still quite positive," he wrote in a note to clients. "First, we feel better about gross margins -- we believe that our estimates for the June and September quarters are conservative given potential trends in warranty accruals, mix and Apple's pricing plans. Second, we believe Apple is about to change the narrative and get investors, analysts, customers and the media finally talking about new products again -- starting with a software/services/Mac event on June 10th and a likely iPhone/iPad event in September. Third, upon further reflection -- we didn't fully appreciate at first how much of a relief it was for Apple to unveil a bigger buyback. As a result, the buyback's size may help the multiple a little more than we even thought a few weeks ago."
Pouring cold water on one of Silicon Valley's hottest rumors
FORTUNE -- Although there is no shortage of iTV speculation -- thanks to rumor sites like Taipei-based DigiTimes -- and plenty of Apple (AAPL) analysts ready to calculate to the penny how much an Apple-branded TV set would add to the company's bottom line, some experts have started to back away from what was once seen as an inevitablity.
In December, Richard Gardner, formerly MOREPhilip Elmer-DeWitt - May 14, 2012 1:27 PM ET
A huge uptick in planned spending has analysts scratching their heads
Once a year in its Form 10-K Apple (AAPL) reveals to the SEC -- and to investors -- how much it has set aside in the year ahead for so-called CapEx -- capital expenditures on land, buildings, machinery, equipment and leasehold improvements (i.e. retail stores).
In that regard, the 10-K the company filed last week was a doozy:
The Company anticipates utilizing MOREPhilip Elmer-DeWitt - Nov 3, 2011 11:37 AM ET
The company finally has enough iPhone 4s in stock -- just in time for the Christmas rush
From the day it launched the iPhone 4 in June, Apple (AAPL) has ramping up production, trying to get supplies to the point where they could meet demand.
The company reached that point of retail equilibrium last week, when shipping delays in its online store, which had been listed at 3 weeks from June through MOREPhilip Elmer-DeWitt - Nov 9, 2010 10:38 AM ET
The iPad is still picking up steam, says an analyst, cutting into sales of every PC but the Mac
Following up on a report issued Tuesday in which he cut his personal computer sales forecast for the second time in two months, Barclays Ben Reitzes took a closer look Wednesday at what it means for Apple (AAPL). In a note to clients, he writes:
"Given the BYOPC (buy your own) trend, international MOREPhilip Elmer-DeWitt - Sep 8, 2010 12:21 PM ET
No longer an industry underdog, the company must tread more carefully, says an analyst
In a note to clients issued Tuesday, Barclays Capital's Ben Reitzes has added his voice to the chorus of commentators with free advice for Apple's (AAPL) executive team, now that it's caught the eye of federal regulators.
The Federal Trade Commission has reportedly won the toss and is looking into two possible antitrust issues: Adobe's (ADBE) complaint MOREPhilip Elmer-DeWitt - Jun 15, 2010 11:12 AM ET
A Barclays analyst leaves a meeting with top executives more bullish than ever
You wouldn't know it from Apple's (AAPL) share price -- which at one point Friday morning was down another $20, having closed Thursday off nearly $10 (see here) -- but there's nothing wrong with the company that some well-crafted Wall Street reform couldn't cure.
Analysts who pay attention to Apple's fundamentals have been issuing one positive note after another. MOREPhilip Elmer-DeWitt - May 7, 2010 1:53 PM ET
Analysts adjust their Chinese iPhone estimates following sales that one describes as "soft"
Following press reports that China Unicom (CHU) only managed to sign up 5,000 new iPhone subscribers after four days of sales, Piper Jaffray's Gene Munster and Barclays Capital's Ben Reitzes each issued notes to clients Tuesday that tried to put a positive spin on the news.
"The China launch is a disappointment," Munster acknowledged. But he added that it MOREPhilip Elmer-DeWitt - Nov 3, 2009 3:43 PM ET
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