Apple Earnings: Can Apple Stock Rally Above $100 Before It Reports?
How's this for a bold prediction? Apple stock will hit $100 before it reports earnings after market close on July 22.
Not that it particularly matters what Apple stock does in the short-term (we invest for the long-term here at the Fool), but there's mounting evidence that Apple has several near-term drivers in place that should have a positive effect on the tech giant's shares sooner or later.
Up and away at Apple
Somewhere in the excitement generated by Apple's recent WWDC and investors focusing further out toward Apple's highly anticipated Fall product launch cycle something got lost in the shuffle, Apple's current quarter. That probably won't last as several signals have indicated that Apple is in the midst of yet another record-setting quarter. And if that's the case, expect coverage (and investor bullishness) around Apple's upcoming blowout to likely fuel its shares upward in the weeks ahead.
There's also another element at work that could have an elevating effect on Apple's stock in the near-term as well, and that's the analyst community. After shunning its shares for some time, analysts several analysts have been raising their price targets for Apple stock above $100. So although both of these data points are clearly short-term in nature, they still fit in well with the broader storyline that Apple's shares remain undervalued today as tech and telecom specialist Andrew Tonner further discusses in the video below.
How you can profit from Apple's upcoming iWatch
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are claiming its everyday impact could trump the iPod, iPhone, and the iPad. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!
The article Apple Earnings: Can Apple Stock Rally Above $100 Before It Reports? originally appeared on Fool.com.Andrew Tonner owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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