“At $700 a share, Apple is still undervalued and could hit the $1,000 mark, said James Altucher, founder of Stockpicker.com, on Tuesday,” Cadie Thompson reports for CNBC. “But with Amazon’s new Kindle Fire HD on the way to market, the iPhone and iPad maker still faces headwinds, he cautioned.”
MacDailyNews Take: “iPad mini.”
“‘It is definitely undervalued. It could easily find its way to $1,000,’ Altucher said on CNBC’s ‘Street Signs,'” Thompson reports. “Jon Burnham, chairman and CEO of Burnham Financial Group, said he also expects the Apple’s stock price to continue to climb. ‘The answer is of course it can sell at $1,000 a share…I think it will, I don’t know when, at some point in the next couple of years or sooner,’ Burnham said. ‘This company is growing so incredibly fast, it’s hard for me to believe that it’s priced where it’s selling.'”
Read more in the full article here.
Altucher also said the Kindle Fire was the best Tablet out there and that it beat the IPad in every aspect. He’s way off base if he believes that.
http://www.thestreet.com/story/11708138/1/amazon-kindle-fire-hd-fizzles-out-review.html?puc=yahoo&cm_ven=YAHOO
Mr. Bozo & his team of clowns pushing the Kindle Firebomb on the misinformed, technically inept cheapskates of the Fandroid Kind.
Ponder the FACT, that Amazon is the Apple of Wall Street’s eyes is more testament to how pathetic our system has become. Pay no attention to Amazone’s P/E behind the curtain…. Lions & Tigers & Bears….. OH MY!
Uhm, to be fair to Altucher, he predicted Apple $1000, a LONG time ago, back when Apple was probably in the $300s.
300’s was just last November 2011 🙂
I do also think that AAPL = $1099 by 2015 … It is a Buy 🙂
MDN – The Mitt Romney of the Mac world. I can’t stand to read another one of your pathetic stories about how the Apple share price is undervalued. This is without doubt the WORST Mac website I have ever had the misfortune to read. The stories are crap, the MDN take is always a reactionary rhetoric designed to appeal to complete morons. So I have just deleted MDN from my favourites and I shall not be coming back.
You won’t be missed.:)
Shaun, you are the Obama of the Mac world, just like Obama is pretending to be a Christian when he really is a Muslim.
Obama: “John Mcain has never brought up my Muslim faith during he campaign.”
The P/E is below the average for the entire S&P. That is fact-based evidence that Apple is undervalued. I dislike Mitt Romney just as much as this guy does, but Shaun is absolutely wrong about his. I never got the hatred of Apple coming from the left. Sure, they pay low wages to Chinese workers, just like every other company. What will you think in 10 years when these workers (who line up for jobs by the hundreds) are completely replaced by robots? I’ll bet this guy likes Amazon over Walmart, too, but guess which one is trying to gut the retail and publishing industries…
I don’t think you can generalize to the extent of “hatred of Apple coming from the left.” I’m a democrat and an Apple shareholder and I absolutely defend Apple’s manufacturing processes, its profits, and its outlook on life. You would have to say that Apple is a left leaning company. Of course there are left wing nut jobs just like there are right wing nut jobs. It’s just you don’t see too many left wing nut jobs on this board (Shaun though could be an exception).
Shaun, you will not be missed. We have too many trolls already. LOL
And by the way, MDN does not write or own the stories, be they about Apple undervalued stock or anything else. If you do not know that, you really did not understand much of anything about this site.
MDN, OK I agree with your comments about 65% of the time. But I really appreciate you searching the web for all these Apple related stories so I do not have to.
Thanks.
okay then Shaun…goodbye then!
Don’t let the door hit you in the arse.
Buh, bye!
Don’t let the screen door…
A-hole.
If you use P/E as a guide to the value of a company then compare Apple’s P/E to Microsoft, Google and in particular Amazon and then say if it’s undervalued, fair value, or overvalued.
Shaun – I know, MDN is so frustrating to read with the reactionary takes mixed in with the good stories.
I want an MDN premium without the dating website ads and well thought commentary.
I’m curious as to why Apple can’t strike the type of media content deals that Amazon has. That would basically snuff out any chance of those Kindle Fires making any money for Amazon after they’ve sold them at cost. Hopefully it’s just a matter of Apple needing to build up its infrastructure to be able to stream content to hundreds of millions of Apple mobile device users.
It’s annoying the way Amazon keeps pecking at Apple’s ankles because it gives Amazon investors enough confidence to keep pouring money into the company while it slows down Apple’s share price growth. How the heck is Amazon going to cover all that revenue for a soon to be 350 P/E by the end of the year?
Apple has headwinds and not Amazon. I don’t freaking get it at all. Apple is sitting in the driver’s seat and shotgun seat all at once.
As pointed out first by Horace Dediu, the market prices AAPL as a multiple of its cash, putting near zero value on earnings growth. This is a unique phenomenon.
http://tech.fortune.cnn.com/2012/05/07/the-market-values-apples-earnings-growth-at-0-00/