Photo: By lynxman on Flickr
Apple analysts are in a funny position right now. The company doesn’t hasn’t announced much in the last few months. The product roadmap is pretty well drawn out. It’s about to deliver one of its weaker earnings quarters.
And the stock is down, somewhat inexplicably, after an amazing run.
As a result, analyst notes all sort of read the same. The basic gist of each note: Apple is an unbelievable juggernaut, and it’s going to make more money than you could ever even imagine. We don’t know why the stock is down now, but we think it’s going to the moon. Get on this rocket ship while the ticket is cheap.
Today’s note on Apple comes from Amit Daryanani at RBC and makes a super simple, super obvious argument for why the stock will hit $700 in the next 6-12 months.
Daryanani lays out the three obvious reasons for the stock to take off:
1. New iPhone, which will be huge, is coming in September/October.
2. New MacBooks are coming.
3. An Apple TV is on the horizon.
4. Apple is selling truckloads of iPads
Are these new or compelling ideas? Nope. But, like we said, Apple analysts are in funny position right now. They have to sit back and wait for all of these “catalysts” to materialise. Until then, all they can do is remind people they’re coming.