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Title : New Geico Rock Award Nominee -- August 1, 2018 -- Nothing About The Bakken
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New Geico Rock Award Nominee -- August 1, 2018 -- Nothing About The Bakken

More on AAPL.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on anything you read here or think you may have read here.

Note: I am posting the AAPL updates for many, many reasons, mostly because the company fascinates me on so many levels. It has nothing to do with AAPL as an investment per se. A new reason: I am getting requests from more readers for Apple updates.

From SeekingAlpha today:

• Needham maintains a Buy rating after earnings and raises its Apple target by $10 to $220, a 16% upside to yesterday’s close.  
• firm says the best way to value Apple is as an ecosystem with de facto “subscribers” because research indicates the average iOS consumer stays within that ecosystem for 10 years.
• Needham estimates the Apple ecosystem has 823K unique members owning 1.4B active devices. 
• more action: Monness Crespi raises from $235 to $275; Citi raises by $20 to $230; Wells Fargo raises to $210; UBS raises by $5 to $215; Bernstein raises from $100 to $190. 
• Apple shares hit a new all-time high this morning, touching $199.26. Shares are now up 4.5% to $198.64 with the market cap sitting at $972.33B.

Bernstein: where the h*** has she/he been. Geico Rock Award nominee. Bernstein actually thought AAPL was going to fall to $100/share? 

On the other hand, look at Monness Crespi -- up to $275. Say what? 

Comment: right now, as things stand, if AAPL goes to $203/share, Apple has a $1 trillion market cap. Sometimes euphoria drives euphoria.

See earnings history here.

AAPL's P/E is 19. Let's call it 20.

The first quarters are always best for AAPL (October - December). Most recently, 1Q18, Apple posted earnings of $3.89/share.

After yesterday's earnings report, Apple has earnings of $11.03 for the current/recent twelve months.

If Apple posts earnings of $4.00/share in 1Q19 (last three months of this year; think Hanukkah, December 2 - 10, 2018), then earnings will be for the current/recent twelve months:

• 4.00 -- estimated 1Q19 (compare with $3.89 1Q18)
• 2.20 -- estimated 4Q18 (compare with $2.07 4Q17)
• 2.34 -- 3Q18 (actual)
• 2.73 -- 2Q18 (actual1
• Total: $12.27. Let's call it $11.

Maintaining the same P/E of 20, that translates to a share price of ... let's see ... 20 x $11 = $220. 

By the way, no one has commented on the fact that Apple's cash horde dropped ... what was it ... $24 billion? How did that happen? Two words: stock buybacks.

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