Apple Inc. (NASDAQ AAPL) Smart Bargain at $700; Analysts gives Rating

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By Athena Yenko | February 7, 2014 3:09 PM EST

As of real time data, Feb 6, 2014, published by NASDAQ.COM, Apple Inc. (NASDAQ AAPL) is at $511.83 up by 0.45 per cent; today's high at $513.5, low at $507.81; week's high at $575.1358, low at 385.10.

Analysts were insistent that the stock can reach $700 anytime soon.

Michael Nielsen of Seeking Alpha believed that Apple Inc. (NASDAQ AAPL) remains a steal for buyers even when it reaches the predicted price at $700.

In summary, here are three reasons why he believed buying Apple is still a smart trade:

1. Based on my financial models, Apple is grossly undervalued

2. The possible positive catalysts are more probable and significant than the negative catalysts

3. The risk-reward of the trade is solid

Meanwhile Zacks reaffirmed a 'neutral' rating for the stock putting a target price at $534.00 on Apple stock which has a potential upside of 4.92 per cent compared to the stock's previous closing price.

On Wednesday, shares of Apple (NASDAQ:AAPL) was up at 1.09 per cent at hitting $514.33. 7,740,770 shares of the company's stock traded hands; one year low of $385.10 and a one year high of $575.14; 50-day moving average of $542.6 and a 200-day moving average of $510.5.

Apple Inc. (NASDAQ AAPL) has a market cap of $458.8 billion and a P/E ratio of 12.65.

As for shareholders, Apple will be paying its quarterly dividend on Thursday, Feb 13 following the ex-dividend date Thursday, Feb 6. Those who invested on record by Feb 10 will receive a dividend of 3.05 per share.

Analysts at Thomson Reuters meanwhile upgraded shares of Apple from 'hold' to 'buy' as published on research note dated Monday.

Analysts at BNP maintained an "outperform" rating on Jan 31. At present they have a target price at $650.

Analysts at Hilliard Lyons meanwhile downgraded shares of Apple to 'buy'.

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