Apple at $532: Look whose price targets are underwater now by Philip Elmer-DeWitt @FortuneMagazine October 24, 2013, 8:33 PM EST E-mail Tweet Facebook Google Plus Linkedin Share icons Click to enlarge. FORTUNE –Some of the Apple AAPL analysts’ 12-month price targets in the attached spreadsheet may be out of date. Many were set last spring, and if they’ve been updated since then, I didn’t get the memo. But several of these targets were just reiterated or reset earlier this week. Scott Craig, for example, raised Merrill Lynch’s target from $520 to $530 on Tuesday, one day after the stock closed above $520. On Thursday, two days later, Carl Icahn helped pushed Apple over $532. Craig is not the only analyst having trouble keeping up. Of the 48 published targets I’ve received, 18 of them (37.5%) are underwater. Not everybody is swimming in Ed Zabitsky’s end of the pool. Four analysts’ targets are above Apple’s all-time intraday high of 705.07, set just over a year ago. The overall average is $555; the median $550. See full list below the fold.