“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.