Apple could rise to $264 per share on new accountancy standards regulation, said Jim Cramer during his Mad Money report last night.
“I'm raising my price target on Apple," Cramer said, saying his $200 price target on the company no longer applies if a new accounting change goes into affect.
Following strong lobbying on behalf of Apple, the Financial Services Accounting Board is considering applying a change in its rules, a change which would enable Apple to recognise revenue from its iPhone and Apple TV products during the quarter in which they are sold.
At present, Apple is required to recognise the money it raises on these products over a 24-month period.
Cramer said if Apple is allowed to
