In its last fiscal quarter Apple sold a record 16 million iPhones last quarter and nearly doubled the sales of iPads, at least five firms have raised their 12-month forecast on the stock to an average price of $467, or a 32% increase from here, reports “CNBC” (http://www.cnbc.com/id/41473211).
At that level, Apple’s market value would total US$433.7 billion, surpassing Exxon Mobil’s current market value of $423.2 billion. After underestimating iPhone and iPad sales for the last year, analysts as a group have ratcheted their numbers up for Apple this year more than any other technology company, according to analysis by Bespoke Investment Group.
“CNBC” notes that Apple’s stock hit a new all-time high Tuesday of $355.12, valuing it at $326.6 billion.