“Apple Inc (AAPL) has had an incredible run throughout 2007,” Georges Yared writes for BloggingStocks.
“The shares closed Friday at a new 52 week high of $161.45 and the company will announce its September 30th fiscal 4th quarter results on October 22nd,” Yared writes.
“Fiscal year September 30, 2008 consensus calls for revenues of $29.7 billion and earnings per share at $4.48. I believe both numbers are going higher as Apple is in the midst of a major product upgrade cycle with the iPod and the Mac, and of course, the iPhone is just getting started,” Yared writes.
“My price target is $200 and I am prepared to move it to $225,” Yared writes. “I wrote a few months back that Apple will surpass IBM (IBM)in market valuation. Currently Apple is at a market capitalization of $140 billion and IBM is at $158 billion. Apple will surpass IBM before the first quarter of 2008 is in the books, if not sooner.”
Full article here.
MacDailyNews Note: Apple’s market value currently stands at $142.46 billion, $17.48 billion less than IBM’s $159.94 billion.