Image: businessinsider.com
Both Deutsche Bank and Global Equities Research have raised their target price for AAPL – the price they expect the stock to achieve – in response to spot checks of Apple sales on Black Friday, reports Fortune.
After spot-checking Black Friday weekend sales, Deutsche Bank’s Chris Whitmore raised his price target to $625 from $575. “We have become significantly more confident in our near-term estimates for Apple” […]
Global Equities Research’s Trip Chowdhry raised his price target to a Street-high $800 after visiting nine Apple Stores and five Targets and talking to “no less than 300 people.”
Anyone planning to invest on the basis of these numbers might want to dig a little deeper, however …
While Fortune didn’t reveal the extent of Deutsche Bank’s ‘spot checks,’ the GER ones were based on one analyst visiting “nine Apple Stores and five Targets” and talking to around 300 people. Given that the first conclusion listed was that “iPad Air 128GB and iPad Mini Retina 128GB were the most popular devices,” one might wonder whether the analyst in question might have over-indulged in the Thanksgiving festivities.
Oh, and Gene Munster gets a mention. He’s been, uh, counting tweets, the shopping habits of NYC’s tourist-laden Apple Stores and says 128GB iPad mini is the most popular according to the report.
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How stupid can they be? One day. One day of sales. So the record-breaking sales the other 365 days for the past ten years wasn’t good enough?
Apple needs to turn it up a few notches. They’re barely trying with the amount of wealth the company has.