Barclays Capital Sets its Target Price of $710 for Apple

Share price of Apple Inc has been recently evaluated by Barclays Capital and the stock price of the tech giant has been raised to $710 as compared to previous forecasted fair value of $630. The investors seem highly optimistic in reaction to the 13 percent increase in Apple’s target price by Barclays.

Currently AAPL share price is trading $534 while the target price set by Barclay indicates capital gains of 33 percent. Analysts from Barclays have raised their fair price for Apple based on expectations of high sales of iPhones. Undoubtedly high demand for iPhones has been seen internationally. Barclays has raised its forecast for year 2015 too and is now expecting the earnings per share of $75 with revenue figure of $300 billion.  Moreover it is also expected that the iPhone 5 will be launched in the 3rd quarter this year.

Currently the share price is trading at a price to earnings of 15.17 times which as compared to its competitors is on the high side as Dell Inc is trading at a price to earnings of 8.97 while Hewlett Packard is trading at a P/E ratio of 8.60 times.

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Alan Smalling

About Alan Smalling

Alan is the latest addition to our news and development team. He has worked with Pete previously on other financial websites. When we can keep him at low altitude, his contributions will mainly be focused on company news and new product launches.

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