Apple Inc Shares on a 52-Week High, Analysts Expect $650 Price Target Due to Stable Trends

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By Reissa Su | December 17, 2013 5:15 PM EST

Apple Inc. shares may have regained its momentum after climbing to its new 52-week high. Analysts are expecting the company to sustain its strong stock performance given Apple's massive gains from its iPhone and iPad sales across the globe.

Motley Fool's Daniel Sparks has noted that despite Apple shares' seemingly weak performance for most of 2013, long-term investors of the company have observed massive gains. Mr Sparks said Apple stocks did not outperform the stock market as a whole in 2012 but investors were rewarded with a modest gain. The analyst also noted that investors who took the chance to put more of their money in Apple Inc shares have seen significant gains in 2013. Mr Sparks believes that the future looks good for Apple.

Analysts at Jefferies have agreed with others in increasing their long-term predictions and price targets for Apple Inc. Jefferies analyst Peter Misek has raised his price target of Apple shares from $600 to $650 based on his survey in the current quarter.

Mr Misek believes Apple's December quarter will be strong with "stable trends" compared to data from the September quarter. Jefferies surveyed one of Apple's Taiwanese suppliers with a 40 per cent rate of exposure to the company's revenues. Analysts saw an increase on a month over month basis with an increase of 8 per cent compared to 2012 on a year over year comparison.

A Wall Street consensus has agreed that Apple Inc will sell 25 million iPads and 55 million iPhones in the December quarter.  Mr Misek has the same expectations. Apple's deal with China Mobile will continue to drive sales for the company in the coming year.

Strong iPhone 5S sales

Apple Inc's iPhone 5 and the iPhone 5S have outsold Samsung Galaxy S4 based on global sales in October, according to Counterpoint's report. Counterpoint's Market Pulse noted the Apple's iPhone 5S retained the no. 1 spot for worldwide smartphone sales despite dealing with supply shortages that gave customers no choice but to wait for their orders to arrive. Since the supply of the iPhone 5S finally meets the demand, research firm Counterpoint expects Apple to meet stronger demand this November and December.

Ahead of Samsung's S4 is the iPhone 5, which ranked second place. The older-generation iPhone remains a popular choice among smartphone consumers, leaving the Galaxy S4 in 3rd place. The iPhone 5C, Apple's cheaper iPhone, also enjoys strong sales at the no. 4 spot followed by Samsung Galaxy Note 3 at 5th place.

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