Shares of Apple (Nasdaq: AAPL) are up some 60% from $380 in December. What’s more astounding is that Apple is worth $560 billion as a company. Giant companies generally don’t move 60% in 10 years, let alone five months.
Yet despite its size, AAPL remains a growth company. Its new trendy product – the iPad – lifted sales over the past several quarters and analysts expect to hear more of the same when Apple reports earnings on Tuesday.
Apple notoriously beats analyst estimates. The experts expect AAPL to report $9.98 EPS, but I’m expecting something above $11.
While the share price has increased 50% this year, the average analyst estimate calls for $678. One bullish analyst even has a $910 price target.
AAPL has become so popular that 46 of the 53 analysts that cover it have a “Buy” rating. Many, including me, believe AAPL has more upside to come.
Today's video focuses on the recent run-up in Apple's (Nasdaq: AAPL) stock price and analyzes potential near-term upside for the stock. Additionally, the video will discuss how you should position yourself ahead of earnings Tuesday evening.
Editor, TopStock Insights
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