47 Analysts Cover Apple. Their Average Price Target Is Now Below the Stock Price, One Week Before Earnings.
Yahoo Finance ·
Something odd has happened to Apple ( AAPL -1.30% ) on Wall Street. The 47 analysts covering the stock still rate it a buy, on average. But their average 12-month price target is now about $319 -- slightly below the roughly $320 the stock trades for as of this writing. In other words, the analysts who recommend buying Apple are, collectively, forecasting that it goes nowhere for a year. That's an unusual setup for one of the world's most valuable tech companies , and the timing sharpens it. Apple reports fiscal third-quarter results on July 30, one week from today. So is Wall Street quietly saying the stock is fully valued? Or have the targets simply not caught up with a stock that has moved faster than the models tracking it? A little of both, I'd argue. The average hides a wide spread. Price targets on Apple run from a low of $215 to a high of $400, and the median target of about $329 sits modestly above the current share price.
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