RBC Capital Markets on Friday advised investors to stay long on Apple stock, as the investment firm sees multiple catalysts for the company in the near future, starting with the reporting of holiday iPhone sales.
RBC Capital Markets on Monday increased its price target for Apple stock to $120 per share, a number that incorporates the investment firm's expectations for the upcoming Apple Watch, predicted to sell 20 million units in its first 12 months.
While billionaire Carl Icahn is unlikely to get his way with Apple, his assessment that the company's stock is massively undervalued should help establish a floor for the stock, preventing it from going below about $95, one analyst believes.
Apple's manufacturing and component purchase commitments reached a record $15.4 billion last quarter, leading one analyst to tell investors on Monday that Apple is gearing up for a blockbuster fall with the launch of an "iPhone 6" and rumored "iWatch."
Apple has apparently placed a massive amount of orders for its next-generation iPhone, prompting RBC Capital Markets to notify investors on Monday that they see great upside potential for the anticipated "iPhone 6" over the coming quarters.
Following Apple's record earnings report this week, investment firm RBC Capital Markets raised its price target to $110, recommending that investors buy ahead of what is expected to be a "busy fall" for the iPhone maker.
Though Apple's June quarter results were slightly below Wall Street expectations, investors expressed greater concern over the company's guidance for the current September quarter, but they were also pleased by improving gross margins, chalking up the results as a mixed bag.
Already on track to capture nearly half of the smartphone market in 2014, Apple could dramatically expand the iPhone's customer base at Android's expense by adding a new model with a larger display, according to a survey released Tuesday by the investment arm of the Royal Bank of Canada.
Following this week's stock split, RBC Capital Markets sees shares of Apple reaching near-record highs in the second half of 2014, based on the strength of the expected "iPhone 6," as well as hotly anticipated new product categories from the company.
With Apple's annual Worldwide Developers Conference highlighting tight integration between the upcoming OS X Yosemite and iOS 8 platforms, market watchers on Wall Street saw the announcements as a direct shot at Google's competing Android platform.
With shares of Apple stock continuing to gain value, RBC Capital Markets has been prompted to raise its price target on the iPhone maker for the second time in as many weeks.
With evidence growing that the iPhone could launch on the world's largest carrier, China Mobile, on Dec. 18, analysts expect big things for Apple's financial bottom line in the coming 2014 calendar year.
A high-resolution Retina display on the second-generation version of Apple's iPad mini is projected by investors to drive demand enough to keep it more popular than a thinner and lighter fifth-generation iPad, though there are concerns about supply constraints leading into the holiday shopping season.
With billionaire investor Carl Icahn pushing for Apple to initiate a larger share buyback, RBC Capital Markets believes the iPhone maker could nearly double its current $60 billion in planned expenditures while maintaining a manageable level of debt in order to boost its share price.
As anticipation grows for Apple's next-generation iPhones and iPads, analysts aren't expecting much this afternoon, when the company will announce the results of its recently concluded June quarter.
RBC Capital Markets on Friday cut its estimates for Apple's just-concluded March quarter, citing apparent weakened demand, but the firm also believes that the iPhone maker could pick up steam in the second half of the year.
Yet another analyst has thrown their hat into the ring, joining others who have heard from sources in Apple's supply chain that the company is gearing up to debut a low-cost iPhone in the coming months..
With Apple actively exploring potential uses for its $137 billion in cash and investments, bringing all of that money back to the U.S. would be a costly move.
The latest iPhone activation data from Verizon suggests Apple may have shipped more than 50 million iPhones during the 2012 holiday season.
Growth in the tech sector is expected by one analyst to remain "muted" this year, leaving Apple once again as one of the best ideas for investors to consider.
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Neil Hughes
Sam Oliver
