Two more analysts raise their Apple price targets
Two more analyst firms have upped their outlook on price targets for Apple.
Analysts at J.P. Morgan have lifted their price target for Apple to US$305 a share from $240, citing better-than-expected anticipated sales of the company's Mac, iPhone and iPad products, reports "MarketWatch" (http://www.marketwatch.com/story/jp-morgan-lifts-apple-price-target-to-3...).
"We believe the iPad is a decent first step in a new category, but critical mass likely depends on future product generations overcoming current feature limitations," wrote the analysts in their note. "In the interim, though, the Apple faithful and the early adopters should help the iPad beat subdued investor expectations." J.P. Morgan added it expects 825,00 iPads to ship in the June quarter, followed by 1.23 million in the September quarter.
Meanwhile, Kaufman Brothers raised estimates and their price target and Apple from $253 to $295.The firm said, "checks indicate 250,000-350,000 sold this opening weekend with aggressive 2010 and 2011 build plans." That said, the firm doesn't believe initial volumes are indicative of longer-term trends, notes "StreetInsider" (http://macosg.me/2/32).
Kaufman Brothers says the iPad has potential to become a big hit but will depend on development of iPad-specific apps taking advantage of its larger screen and faster processor.