It hasn’t always been sunny when it comes to Apple and the stock market, but it also hasn’t always been doom and gloom. While analysts weren’t too keen on Apple last year, the year that launched the iPhone 5s, it looks like they’re changing tunes this year.
In a report released by Fortune, it looks like analysts are starting to change their tune when it comes to Apple for the year 2014. In the last few weeks, some analysts have adjust their price target for the Cupertino-based company by as much as 30 percent. The lowest, as of the time of this writing, Brian Collelo of Morningstar, has it at $87.00. The highest? Stephen Turner of Hilliard Lyons, which marks it at a $124.00 target.
With a 7-for-1 stock split and a continuing stock repurchase plan, the future is looking positive so far for Apple as it relates directly to analysts. It shouldn’t come as a surprise, though, considering this is the year that we’re reportedly going to see not only one new iPhone, but two, with the introduction of the 4.7- and 5.5-inch iPhone 6. Add to the mix the expected launch of the iWatch, the company’s addition into the wearables market, and this year is looking to be quite the big one for Apple.
What’s interesting, though, is that most of these alterations are apparently mostly due to the changes made by carriers, specifically with new leasing options for devices and low up-front costs. From the report, Walter Piecyk of BTIG said:
““Historically we estimate that ~20% of AT&T’s subscriber base was eligible for an upgrade during an iPhone launch quarter. That eligibility dropped to a low of the mid-teens in the second half of 2013 due to the stricter upgrade policies. We expect AT&T’s new Mobile Share Value plan to increase the percentage of AT&T post-paid subscriber base eligible to upgrade to over 65% by the time the next iPhone launches. In absolute terms that is the difference between 10 or 11 million eligible for upgrades and 45-50 million.“
It looks like just about everyone thinks this is going to be a big year for Apple. Are you expecting big things?[via Fortune]