Global investment banking and securities firm Goldman Sachs has raised their projected price target for Apple stock up to $750 and is advising potential investors to buy into the Cupertino giant before next weeks earnings report. Analyst Bill Shope has said that he expects Apple’s earning report for the March quarter to be “solid”. Shope doesn’t seem to be the least bit worried about the recent fluctuation of AAPL stock which saw it’s largest ever drop of 52 points on Monday.
Shope projected that Apple sold around 31.1 million iPhones, 12.5 million iPads, and roughly 4.3 million Macs. While the March reports are expected to be awesome it’s seems that Cupertino could be set up for even a better quarterly report in June. Reasons why? Well this will be the first quarter that the new iPad has been available for the entire quarter along with the availability of a $399 iPad 2.
Bill Shope went on to say further, ” In other words, the June quarter is when many of the recent catalysts begin to fully manifest into earnings power.”