“Stephen Coleman, chief investment officer at Daedalus Capital, says Apple Inc. shares will rise further, ‘going to $600,'” Ken Prewitt and Julie Vaughn report for Bloomberg.
“He spoke in an interview from St. Louis, Missouri,” Prewitt and Vaughn report. “On Apple’s 115 percent rise this year. How much is left? ‘Quite a bit, quite frankly. I think Apple is going to $600. And don’t fall off your chair.'”
People aren’t properly factoring in Apple’s Macintosh and it’s future potential, says Coleman in the full article here.
[Thanks to MacDailyNews Reader “Mike in Helsinki'” for the heads up.]
MacDailyNews Note: In the Bloomberg article, no time frame was given for AAPL to hit $600 per share.
If you think Coleman’s crazy, here’s something to keep in mind: On April 2, 2007, with Apple shares opening at $94.14, Coleman stated that Apple would hit $200 per share in 2007. Many people called him crazy last Spring, too: Daedalus Capital CIO: Apple Inc. will hit $200 per share in 2007 – April 02, 2007
Stephen M. Coleman is the Founder and majority shareholder of Daedalus Capital, L.L.C., where he has served as the Chief Investment Officer since 1994. He was formerly employed for four years by Prudential Securities as a Portfolio Manager. Mr. Coleman formed and is President of Chicken Little Fund Group, Inc., a mutual fund management company for Chicken Little Growth Fund (“CHKNX”), and also serves as General Partner of ALPHA Strategy Fund, L.P., a development stage aggressive growth equity fund. His prior financial experience includes working at Salomon Brothers, Drexel Burnham Lambert, and acting as President of a real estate syndicator in Miami, FL.
As someone who sold his Apple shares when they were $22 before two stock splits ago, I think I just pissed myself after reading that headline
Now THAT’S a target!!
Once again, from his lips to God’s ears!
Let’s ask first to Laura Goldman what does she thinks about…… (lol)
I dont think its that far fetched. Every % point of Mac sales is worth billions of dollars in increased revenue. Not to mention iPhone expansion and the dark horse, Apple TV.
this guy is just showing off let’s get to 200 first
Mark it on your calendar and see how many days before Apple hits $600 per share. Then remind us.
(magic word: water) Water means unlimited for Apple!
Laura Goldman: “I am putting another nail in my coffin.”
YEAH, BABY !!!!!!!
When I think of all the money that I’ve spent on Manolos and Jimmy Chus …
Eh better than that, back in 2001 i believe apple was down at $15 a share, since then i think it has split twice, you do the math.
“When I think of all the money that I’ve spent on Manolos and Jimmy Chus …”
Evidence that many Mac users are actually gay.
@ observer,
Duh.
News Flash! Many PC/Windows users are gay.
Are we done here?
Great.
I should of invested in Gold or Apple Stock…
Does that make apple’s stock golden?
I’ll just keep spending my money on hookers and blow
yeah, I know it’s fun picking on Laura but how do you know she didn’t dump her AAPL stock and bought RIMM (Blackberry) which has tripled in the same period AAPL has doubled? I don’t know what RIMM is doing right but they are making headway into the consumer and small business markets in a large way. Maybe the iPhone needs native encrypted email. Also native apps helps as well. (sorry for getting off track)
When you think about how little market share the Mac has, and just how few people, in general, own Apple products now, it is easier to see the massive potential for growth.
Let’s put this to the “smell test”. The largest companies in the world are Exxon Mobil and PetroChina (as of 10/15/07).
Apple’s PE ratio is already around 47 (as of 10/26/2007). Can you imagine what it’ll be if the stock is at 600? And even if earnings more than triple (and who knows), it’ll still be 50 or so, which is pretty high for a huge company.
Using today’s prices, if AAPL is trading at 600 with the same # shares outstanding, its market cap would be about 525 billion. Yes, over half a trillion. Depending on how long that takes, that would put it ahead of every other company in the world (provided Exxon Mobil and PetroChina aren’t rising all that fast). Consult this handy list: http://tinyurl.com/yw8skg. Yeah, AAPL will eventually be that large, if they keep their act together, and SJ doesn’t get struck by lightning. Like Berkshire Hathaway without Buffet, what’ll AAPL be without SJ? Wait, we already know the answer to that question.
That said, am I kicking myself for not buying AAPL back in 2003? Hell yes.
That’s funny…My lady friend and I discuss this often. I’ve been telling her that Apple’s stock price belongs up there with Google’s, which is in the 600’s. I also told her last year that Apple was “a $200 stock waiting to happen.”
It’s very interesting that someone else sees it too.
I’m just looking at the brand-new iPhone that hasn’t even gone global yet, the iPod Touch that just hit the streets, the Leopard effect, the “MacBook Thin” featuring Multitouch that hasn’t dropped yet, Steve just said they’re going to keep up the pace (i.e. “pressure”) with regular OS updates (12-18 months) for the foreseeable future, the hidden potential of Apple TV landing in everybody’s living room eventually, the hidden potential of Multitouch itself, full ZFS integration down the line, etc., etc., etc.
Apple’s stock price is STILL low, IMHO. Good times ahead!
Peace.
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Olmecmystic
I sold my Apple shares recently. I had bought at $25.50 and held them for a fair long while. They split making my effective cost $12.75 per share.. I sold half at $89.75 and recently sold the rest at $160.
Now if shares are at $185, going to $600 doesn’t sound like such a wild and unimaginable growth at 324%…
Afer all, even splitting my gains I still did better than 970%
Of course now.. I wish I still held on for some more… but hindsight is 20/20.. but a bird in the hand…
OK.. too many clichés eh?
Jay
Well ok, let’s just assume Laura bought RIMM and it tripled at the same time AAPL Doubled. So how does that justify her putting a sell on AAPL ? It did double didn’t it ? She was still wrong about it. Its not just about making fun of her, its also about saying the truth well and exposing how wrong these analysts can be.
I remember when Apple stock was $9/share back in 1997 and there has even been a stock split since then…. which means Apple stock has gone from $9 to $370 in the past 10 years.
Paging Laura Goldman. Paging Laura Goldman. Your crow has arrived. Laura Goldman, your crow has arrived on the loading dock. Please arrange to pick up all 5 tons before the end of day. Thank you.
Do I hear $1000?
It’s really nice to see someone attempting to make REAL predictions instead of just stating the obvious based on current short-term trends. Predicting AAPL will go to $100 when it’s at $85 and climbing hardly requires a sixth sense or reading entrails.
However predicting a meteoric rise of 100% within a one year time frame, accurately, takes some guts. Investment advisors are not usually long on guts when it comes to public prognostication. And they’re usually wrong, to boot. (See: Goldman, Laura. Aka: nutjob.)
I don’t know a lot about stocks, investments, etc. But I do know that Apple as a company is on as solid a footing as I could imagine for future growth. I’ve felt over the last few years that almost all the investment “advice” has been either too conservative or simply manipulative. Nice to see something on the other end of the spectrum for a change.
@Retarded_Baboon,
Exactly what does “should of” mean? I do think you mean “should have,” as in some missed prior action or opportunity.
Seriously, until one has a decent grip on the English language, the ability to invest wisely isn’t exactly paramount.