Furniture stocks are hitting new highs as growing demand for homes and office space boosts sales of desks, beds and other necessities. The 18-stock furniture industry group has risen about 20% this year, surpassing its prerecession peak in February 2007. Ranked No. 14 out of 197 industry groups in Friday’s IBD, the group has been trending slightly higher. Nine stocks in the group have Composite Ratings above 90, suggesting broad leadership.
Apple (AAPL) iPhone sales strength and the company’s aggressive capital return program could push its shares higher, BMO Capital Markets analyst Keith Bachman said in a research report Thursday. Meanwhile, he’s less optimistic about Apple Watch sales. Bachman maintained his outperform rating on Apple stock with a price target of 145. Apple was up more than 2.5% to near 123 in late afternoon trading on the stock market today. For the June quarter, Bachman raised his iPhone sales estimate to 48 million units, but kept his estimate for Apple Watch sales unchanged at 3.5 million units. For fiscal 2016, which starts Sept. 27, he raised his iPhone estimates by 3.5 million to 233 million units and lowered his Watch estimates by 3 million to 27.5 million units. He estimates the installed base of Apple iPhone users will be well over 500 million by the end of …
Microsoft (MSFT) got a pick-me-up Friday after UBS Securities raised its price target on the stock over positive expectations for the upcoming Windows 10 PC operating system. Microsoft was up nearly 1% in late afternoon trading in the stock market today, near 45. It was up as much as 1.4% earlier in the session. UBS analyst Brent Thill reiterated his buy rating on Microsoft stock and raised his price target to 52 from 50. Thill values Microsoft on a cash flow basis and says the company’s shares are trading at a 30% discount to its peers. The July 29 release of Windows 10 “represents another important step in the evolution of Microsoft’s new, more open strategy,” Thill said in a research report Thursday. “While the OS has been shrinking as a percentage of total revenue, it still makes up about 15% of Microsoft’s revenue.” Microsoft needs ….