Analyst raises AAPL price target to $699 per share

Analyst raises AAPL price target to $699 per share

Summary: A Jeffries analyst raised his $AAPL price target by $100 today on two major product announcements in 2012: iPhone 5 and an Apple television. He also called a dividend "likely."

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TOPICS: Apple
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Despite hitting a lofty height of over $568 per share today, shares of Apple, Inc. (NASDAQ: AAPL) could go higher -- much higher.

That's the opinion of Jeffries analyst Peter Misek, who raised his $AAPL price target by $100 today telling CNBC's Fast Money:

We think the Street numbers are too low, so we’re sending a message that we think Street’s going to go higher and we think the stock’s going to go higher as a result

The reason? Misek estimates that Apple will announce the iPhone 5 in September and an Apple-branded flat-panel television in the fourth quarter of 2012.

During the interview on Fast Money Misek also said that an Apple dividend was "likely" and that it could arrive in the second half of 2012.

That’s a ridiculous amount of money. It starts to become a bit of a risk for them. They’re going to have to distribute it

Buy, sell or hold?

Chart: CNBC

Topic: Apple

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9 comments
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  • Buy

    The Street is lagging behind Apple's bold moves.
    symbolset
  • Dutch Tulips

    'nuff said.
    Your Non Advocate
  • Analyst raises AAPL price target to $699 per share

    Sounds like a pump and dump to make him more money. I hope SEC investigates him.
    Loverock Davidson-
    • Good call Loverock

      We all know that as soon as MS releases an MP3 player the Ipod is dead and there's no way Iphone can compete with a windows based phone. The smart money now would be to sell AAPl short and invest all your money in MSFT.
      Good Luck
      harper_tony@...
      • AAPL vs MSFT

        The problem with MSFT is it's not a growth stock. I held it for a long time but decided to sell it a few years back. For the past 10 yrs, it's traded between $25-$30. There are other opportunities other than just collecting dividends. AAPL is excellent growth company. Too bad these promotors are screwing things up
        Everyday Joe
  • Apple at $699

    IMHO, AAPL is a bubble and we all know what happens to bubbles. I want to hold this stock for a long time but I'm actually thinking of selling but every time I want to pull the trigger, it goes up more. These so call analyst are nothing but promotors. They know nothing and their opinions are based on nothing. Why do they make it on the new?
    Everyday Joe
    • Can you explain why...

      AAPL is a bubble?
      msalzberg
  • Hold

    I think I'll keep the two shares of Apple stock that I own and see what happens.
    gribittmep
  • I haven't bought any new apple stock since 2005

    At that time it was @ 65 USD per share. I have sold some in the last year at @ 425 USD per share. I still hold 1500 shares which at yesterdays closing is worth @ 876,000 USD.

    Apple is the best thing to every happen to me. Microsoft shares have done absolutly nothing. Glad I dumped them in 2000 and purchased 2500 Apple shares instead!
    The Danger is Microsoft