Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
RBC Capital Markets’ Amit Daryanani maintained an Outperform rating for Apple Inc. (NASDAQ: AAPL), with a price target of $130. He expressed optimism regarding the company being able to “comfortably” increase its capital allocation program to include share repurchases of $50 billion and hike dividend by 10-15 percent.
Apple has $30 billion remaining in its current share buyback plan. Daryanani believes the company could announce an additional buyback authorization of $40-$50 billion during its April EPS call. This buyback would up Apple’s EPS by about 4 percent in FY16 and beyond. Daryanani added that the expected dividend hike of 10-15 percent implies a yield of 2.3 percent.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Related Link: PayPal Investors Overreacted To Apple Pay News, Says Goldman Sachs
FCF Generation
The analyst expects Apple to be able to generate FCF of $69B in FY16, and sustain +10 percent FCF growth in the out years, in-line with growth in operating income. He estimates 41 percent of FCF to be generated is in the US and the remaining overseas. Apple currently has $216 billion of net-cash on hand.
“In aggregate, given the $65B+ FCF potential AAPL could implicitly commit to returning 100% of annual FCF to shareholders over time (specially given the $200B+ cash on hand),” Daryanani commented.
Shares of Apple traded recently at $105.67, unchanged on the day.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.