Lehman Brothers set Apple target stock price of $190

I don’t normally follow the shenanigans of the stock market, but one analyst has just put Apple’s target price at a record high: $190.

Says the AP:

[Lehman’s Harry E.] Blount raised his price target by $30 to $190, implying upside of nearly 14 percent to Friday’s $167.25 closing price, and raised his profit and sales estimates for Apple’s fiscal fourth quarter.

Apple’s fiscal fourth quarter contains the first full quarter of iPhone sales and a $200 price cut likely accelerated sales toward the end of the period, Blount said.

“We anticipate that Apple will perform better than expectations,” Blount wrote.

Given that this year marks the 10-year anniversary that everyone thought Apple would die a horrible death, such a high stock price (and market cap) is pretty happy news.