“Despite reaching a new peak share price for 2013 that pushed Apple’s market capitalization above $500 billion, the company’s valuation remains where it was in the spring of 2012, at a time when analysts were predicting Apple’s market cap would soon double,” Daniel Eran Dilger writes for AppleInsider.

“In April 2012, analysts Gene Munster of Piper Jaffray and Brian White of Topkea Capital Markets had both set price targets envisioning Apple reaching $1000 per share within the year, a price that would have pushed the company very close to a one trillion dollar valuation,” Dilger writes. “Apple surpassed analysts’ estimates for iPhone sales in that spring quarter, beginning an upward stock trajectory for 2012 that peaked in September 2012 at around $700.”

Dilger writes, “Overall, this seems to indicate that the confidence analysts placed in Apple’s fundamentals at the beginning of 2012 was correct, and its impact on the company’s actual share price was simply delayed by a misinformed, year long ripple of irrational trading behavior…”

Read more in the full article here.