How's this for a bold prediction? Apple (NASDAQ:AAPL) stock will hit $100 before it reports earnings after market close on July 22.
Not that it particularly matters what Apple stock does in the short-term (we invest for the long-term here at the Fool), but there's mounting evidence that Apple has several near-term drivers in place that should have a positive effect on the tech giant's shares sooner or later.
Up and away at Apple
Somewhere in the excitement generated by Apple's recent WWDC and investors focusing further out toward Apple's highly anticipated Fall product launch cycle something got lost in the shuffle, Apple's current quarter. That probably won't last as several signals have indicated that Apple is in the midst of yet another record-setting quarter. And if that's the case, expect coverage (and investor bullishness) around Apple's upcoming blowout to likely fuel its shares upward in the weeks ahead.
There's also another element at work that could have an elevating effect on Apple's stock in the near-term as well, and that's the analyst community. After shunning its shares for some time, analysts several analysts have been raising their price targets for Apple stock above $100. So although both of these data points are clearly short-term in nature, they still fit in well with the broader storyline that Apple's shares remain undervalued today as tech and telecom specialist Andrew Tonner further discusses in the video below.