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The latest report from analysts at Credit Suisse (CS) says they expect shares of Apple Inc. (NASDAQ:AAPL) to outperform in the coming months. The report points out the fact that Apple’s products are highly diversified across the computing market, including PCs, tablets, smartphones and other devices. According to the analysts, this diversity gives Apple Inc. (NASDAQ:AAPL) some structural advantages because the company can grow iPhone sales, tablet sales and computer sales. They expect sales of iPhone units will increase by 39 to 48 percent. They also expect sales increases of 52 to 62 percent for Apple tablets and 3 to 8 percent sales increases for Mac computers.
Currently CS analysts are maintaining their $750 target price for the stock. In the past, the stock troughed at 10 times esps. Wall Street analysts are setting an earnings per share estimate of $52.23 for calendar year 2013, which supports a target price closer to $520. However CS analysts believe those estimates are too conservative. Their estimated earnings per share for 2013 is $60.19.
They are maintaining their outperform stance on shares of Apple Inc. (NASDAQ:AAPL) because of the company’s solid growth and advantages in sustainable competition. If Wall Street comes closer to the estimates of CS analysts, then the consensus will be around $55.
CS analysts say that currently Apple Inc. (NASDAQ:AAPL) shares are inexpensive compared to the growth profile of the stock. Also the $128 of net cash per share makes the stock look attractive to investors at the current price. Apple Inc. (NASDAQ:AAPL)’s next report on earnings is expected to be released around Jan. 22, and analysts expect that report will be the catalyst for revising the earnings upward and also appreciating the shares.