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Apple Inc. PT Raised On iPhone 6, New Products

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No matter who you’re listening to, the story about Apple Inc. (NASDAQ:AAPL) is pretty much the same. Analysts see strong iPhone demand and new product categories as likely driving big-time growth this year. RBC Capital have raised their split-adjusted price target for Apple to $100 per share.

Apple could approach record highs

Of course Apple Inc. (NASDAQ:AAPL) started trading at its new seven-for-one split on Monday. RBC analyst Amit Daryanani increased his split-adjusted estimate from $96 to $100 per share in a report dated June 11, 2014. Before the stock split, the analyst’s price target was $675 per share.

Daryanani is just one in a long line of analysts who have bumped their split-adjusted price targets for Apple Inc. (NASDAQ:AAPL) up to at least $100 a share. If all of these analysts end up being correct, it would mean that Apple stock will approach the equivalent of the all-time high it hit in fall 2012. At that time, Apple shares surpassed $700 per share.

Apple’s iPhone 6 holds tremendous promise

Most analysts also agree that the iPhone 6 holds tremendous potential for Apple Inc. (NASDAQ:AAPL). Daryanani predicts that the handset will be even more profitable than the company’s previous models if there is an even high-end model. We’ve been hearing plenty of rumors that Apple will release two different iPhone 6 models—one that’s 4.7 inches in size and a second that’s 5.5 inches.

The RBC analyst believes that Apple Inc. (NASDAQ:AAPL) could start the larger iPhone 6 out at $299 with a contract. In addition, he thinks the company will be able to boost its iPad sales with this year’s even more improved models.

Apple targets new product categories

Daryanani also is looking forward to the launch of the rumored iWatch. He predicts that the device will be Apple Inc. (NASDAQ:AAPL)’s way into the health and fitness industry. He also thinks that it will make the entire iOS ecosystem even more integrated as it adds health monitoring capabilities.

The analyst also talked about other possible product categories. We’ve heard off and on through the years that Apple Inc. (NASDAQ:AAPL) is working on a smart TV, but the RBC analyst doesn’t think we will see it this year. He does, however, believe it’s possible that Apple will eventually launch its own television set.

Shares of Apple Inc. (NASDAQ:AAPL) edged downward by early 2% in afternoon trading today.


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