• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After 40 investors rejected Jeff Bezos’ Amazon pitch, his parents offered $245,573 of their retirement savings

2

Current price of oil as of September 24, 2026

3

China now makes up a record 40% of all global container exports—and it’s a sign Trump’s tariffs meant to punish Chinese firms have fallen flat

1

After 40 investors rejected Jeff Bezos’ Amazon pitch, his parents offered $245,573 of their retirement savings

2

Current price of oil as of September 24, 2026

3

China now makes up a record 40% of all global container exports—and it’s a sign Trump’s tariffs meant to punish Chinese firms have fallen flat

The Street scrambles to adjust its Apple expectations

By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
March 20, 2012, 2:27 PM ET
Google source logo
Add Fortune on Google for similar content.

Updating price targets to account for a dividend, a buyback and 3 million iPad



Most Apple (AAPL) analysts like to publish their quarterly estimates for the current quarter the day after the company reports its results from the last. And then, unless things change dramatically, they stick with their forward-looking numbers for the next two and a half months.

Sometimes, however, Apple gets so far ahead of their forecasts that adjustments must be made.

Monday was one of those times. After Apple announced 1) a $10 billion stock buyback, 2) its first dividend since 1995 and 3) sales of 3 million iPads, the analysts scrambled to adjust their spreadsheets and published price targets. Among the new targets:

  • Morgan Keegan’s Tavis McCourt: $800 (from $441)
  • FBN Securities’ Shebly Seyrafi: $760 (from $730)
  • Evercore’s Rob Cihra: $750 (from $650)
  • Webush’s Scott Sutherland $750 (from $430)
  • Sterne Agee’s Shaw Wu: $740 (from $620)
  • Barclay’s Ben Reitzes: $730 (from $710)
  • Merrill Lynch’s Scott Craig: $730 (from $610)
  • Credit Suisse’s Kulbinder Garcha: $700 (from $600)
  • Citigroup’s Richard Gardner: $700 (from $600)
  • Goldman Sachs’ Bill Shope: $700 (from $660)
  • RBC’s Mike Abramsky: $675 (from $600)
  • UBS’ Maynard Um: $675 (from $550)
  • Wells Fargo’s Jason Maynard: $630-$660 (from $620-$640)

Those are the changes we’ve seen this week. Some of the increases are modest, like Barclay’s 3% jump to $730.

Some are more dramatic.

The prize for biggest increase, unless we missed a note, goes to Morgan Keegan’s Tavis McCourt for his 81% hike to $800 from the $441 target he set on January 19.

About the Author
By Philip Elmer-DeWitt
See full bioRight Arrow Button Icon

Latest in


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.