On Monday, Oct 14 (ET) market close, Apple (NASDAQ:AAPL) traded up 0.73 per cent, hitting $496.45. With a previous close at $492.812, days high at $497.58, days low at $487.75; 52 weeks high at 652.79 and 52 weeks low at $385.10 (quotes as published by NASDAQ OMX).
StockRatingsNetwork.com reports that analysts at Mizuho hauled up their target price of Apple (NASDAQ:AAPL) from $520.00 to $550 - potential increase of 11.60 per cent from Apple's current price. The firm gave a "buy" rating on Apple.
"We expect the company's outlook to indicate significant acceleration in iPhones, which would imply sequential improvement in margins," Mizuho wrote.
Mizuho also estimated Apple (NASDAQ:AAPL) F1Q14 revenues to range from $55-57B and EPS of $14-14.35.
"Given management's recent commentary and our expectations that revenue outperformance will be led by iPhones, we expect gross margin to end up slightly above the high end of management's outlook of 36-37%," Mizuho stated.
Meanwhile, various analysts had been giving Apple (NASDAQ:AAPL) an impressive rating since Oct 9.
Analysts at Raymond James gave a "positive" rating on Apple; analysts at Piper Jaffray Cos. Gave Apple an "overweight" rating; and analysts at Susquehanna gave a Apple a "positive" rating - two analysts gave a "sell" rating, forty-two analysts gave a "buy" rating and two gave a "strong buy" rating.
An analyst at SeekingAlpha gave an aggressive projection on Apple (NASDAQ:AAPL).
Essentially, the projection stated that Apple (NASDAQ:AAPL) overall business will be worth $93 billion this year and $115 billion by 2023 - based on unit shipments of 20.5 per cent year over year.
As for the tablet market, the analyst projected that shipments will increase from 206 million unites shipments in 2013 to 456 units by 2023 year over year.
"We forecast that Apple will ship 98.3 million units in 2013 (calendar), representing a market share of 47.8%. Facing increasing pressure from Asian vendors who will offer low-cost tablet models, but on the other hand being supported somewhat by continuing growth in the higher-value market segments, Apple's share of the worldwide tablet market will fall to 33.3% by 2023. The value of Apple's tablet business will grow from $53.3 in 2013 to $75.1 billion in 2023."
As for the iWatch, the analayst predicted that market share for this product will be worth around $43 billion by 2023.
By 2015, Apple is also predicted to launch a TV set at a price of &1,400 - with the market share on this product growing up to $81 billion in 2023.
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