Riding wave of strong iPhone and Mac sales, Apple shares are on track to hit $300

Thu, Apr 15, 2010

Finance, News

With Apple’s iPad launch still attracting a lot of press, Apple’s upcoming earnings announcement on Thursday, April 20 is flying a little bit below the radar.

Apple watcher Gene Munster of Piper Jaffray anticipates Apple’s iPhone sales for the first quarter of 2010 to come in at 7.5 million units. If accurate, this would represent a 90% increase in unit sales from the same quarter a year-ago. The Wall Street consensus regarding iPhones sold is a little bit more conservative, and comes in at 6.8 million units. Munster is also predicting Mac and iPod sales to come in at 2.9 and 9.1 million units respectively.

In light of that, Munster’s stock target for Apple shares now stands at $299, up from a previous target of $287. But seriously, Gene, why not make it an even $300?!

Meanwhile, analyst Robert Chira recently upped his stock target for Apple to $300, up from a previous target of $260. On Wednesday, Apple shares closed at an all-time high of $245.69.

via AppleInsider



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