Underwater

Apple at $532: Look whose price targets are underwater now

October 24, 2013: 4:08 PM ET

If you go by the published targets of one out of three analysts, Apple is overpriced.

Click to enlarge.

Click to enlarge.

FORTUNE --Some of the Apple (AAPL) analysts' 12-month price targets in the attached spreadsheet may be out of date. Many were set last spring, and if they've been updated since then, I didn't get the memo.

But several of these targets were just reiterated or reset earlier this week.

Scott Craig, for example, raised Merrill Lynch's target from $520 to $530 on Tuesday, one day after the stock closed above $520. On Thursday, two days later, Carl Icahn helped pushed Apple over $532.

Craig is not the only analyst having trouble keeping up. Of the 48 published targets I've received, 18 of them (37.5%) are underwater.

Not everybody is swimming in Ed Zabitsky's end of the pool. Four analysts' targets are above Apple's all-time intraday high of 705.07, set just over a year ago. The overall average is $555; the median $550. See full list below the fold.

More

  • Look whose Apple price targets are underwater

    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 MORE

    - Apr 30, 2013 10:57 AM ET
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