Topeka Reaffirms $1111-Target for Apple Inc. (AAPL), Munster Bullish


Topeka Reaffirms $1111-Target for Apple Inc. (AAPL), Munster Bullish

Apple Inc. (NASDAQ:AAPL) has received notable positive feedback from Topeka Capital Markets. Despite the negative sentiments that has shrouded the stock in the past month, the investment bank believes that the iPhone maker’s “brightest and most innovative days are ahead of it.” Topeka analyst, Brian White, who has on numerous occasions stood out for his bullish stance on Apple, believes that Apple’s product portfolio is currently at its best. White also placed a 12 month price target of $1111; reiterating a similar move made by Topeka in August 2012.

White highlighted three factors in his positive judgment of Apple’s future. Among the factors are the positive indicators in China. White made mention of the ongoing deal between Apple Inc. (NASDAQ:AAPL) and the world’s largest carrier, China Mobile,  adding that Apple was edging toward making its iPhone more price-competitive.

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In addition, White identified the prolonged growth in the tablet and smartphone market, arguing that Apple had a domineering position in both those sectors. Finally, White made mention of the television market, contending that there was still room for an Apple Inc. (NASDAQ:AAPL) disruption.

White, who said that he was unimpressed by smart TV offerings by LG, Samsung Electronics Co., Ltd. (LON: BC94) (KRX: 005930) and others at the Vegas Consumer Electronics Show, said a strong Apple television product could create an entirely new $100-$400 billion market opportunity. In the same breadth, the Topeka report deems Apple’s reinvention of the TV experience a contingency.

AT&T and Verizon reveal that iPhone was instrumental

Piper Jaffray on the other hand, through its analyst Gene Munster, believes that Apple’s iPhone sales will soar above its earlier December estimates by five million units. This surge is partly based on comments from AT&T Inc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ). The latter said the iPhone helped it reach record activations in December, while AT&T maintains that iPhone sales expanded slightly on a year-over-year basis.

Munster projected Q4 iPhone sales in the U.S at 15 million units. The analyst also projected a global iPhone sales range of 41-54 million units. With regard to the impending March 2013 quarter, Munster slashed the iPhone sales estimates by five million to 38 million units.

When it comes to iPads, Piper Jaffray believes that Apple Inc. (NASDAQ:AAPL) will announce 25 million iPad sales for the quarter that ended in December; placing iPad minis at 5 million and full-size iPads at 20 million. In addition, Piper Jaffray highlights the possibility of a 7 percent year-over-year dip in Mac sales.