At AAPL, Harvest May Be At Hand

Forbes.com, Winter, 2012. This article was placed on behalf of the U.S. based equity research effort of institutional broker and investment bank Canaccord Genuity. It was part of a series of articles developed under an agreement with forbes.com to work with a variety of contributors and assist them in delivering actionable investment ideas each week. The site, forbes.com is one of the top 500 sites in the world with nearly 10 million subscribers and approximately 100 million page views a month.

Following the release of Apple (AAPL) earnings Canaccord Genuity technology analyst Michael Walkley reiterated his BUY rating on the company and raised his price target to $650 from $560. After noting the company’s record results due to iPhone, iPad, and Mac sales, Mr. Walkley said:

“We believe Apple is likely to announce a dividend during 2012, potentially next quarter when crossing $100B in cash and cash equivalents. We view this as very bullish for investors, as we believe a new group of investors seeking dividends would invest in Apple and drive shares higher.”

He added, “We believe Apple is well positioned for very strong [Calendar] 2012/13 sales and earnings growth driven by new product introductions, including the pending refresh of MacBook Air, the iPad 3 launching this spring, an LTE iPhone likely in [Third Quarter Calendar] /2012 and potentially Apple TV exiting [Calendar] 2012.”