Apple (AAPL) remained buoyant after its big day Tuesday, but whether that strength in AAPL stock can persist remains to be seen. AAPL stock usually sells off after the company launches a
new iPhone, but AAPL was doing just fine Wednesday following the debut
of the iPhone 6 and Apple Watch.
You can thank the almost unanimous blessings of Wall
Street analysts for at least part of the AAPL stock resilience. Plenty
of analysts applauded the latest products and services from Apple. However, as glowing as many of the early research reports
have been on the iPhone 6 launch, serious questions remain about whether
the company can turn the latest gadgets and services into home runs.
After all, there was nothing really unexpected in the
Apple show. AAPL stock already reflected much of what the market learned
on Tuesday. Now comes the hard part. The iPhone 6, Apple Watch and Apple Pay service have to at
least fulfill their expectations to justify the move in AAPL stock
ahead of their launch — and to drive more upside ahead. Many Wall Street analysts seem comfortable with the
potential upside in AAPL stock, even if at least one of them raises some
troubling issues. Indeed, on Wednesday, at least 16 analysts surveyed
by FactSet raised their price targets
on AAPL. Among research shops, prominent target-price hikes came from
Cantor Fitzgerald, Susquehanna, BMO Capital Markets, Piper Jaffray and
Goldman Sachs.
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