“Apple’s stock hit a new high yesterday in the afterglow of a big Christmas for Mac computer and iPod gift-giving,” Brian Garrity reports for The New York Post.
Investors’ “expectations running high that the company will report record iPod sales and growing Mac business,” Garrity reports. “Also powering the stock – which ended the day up 15 cents to $198.95 – is growing speculation that Jobs may unveil a new slate of must-have gadgets – including an ultra-portable laptop and possibly an improved iPhone at next month’s Macworld conference.”
“Analyst estimates suggest that the company will sell 23 million to 25 million iPods by the end of the quarter, along with more than 2 million Macs and more than 2 million iPhones,” Garrity reports.
“The crossing of the $200-per-share mark tops a year of dramatic growth for Apple shares, which have traded as low as $76.77 over the past 52 weeks and crossed the $100 per share mark in May. Many analysts now have a near-term price target for the stock topping $225 a share or higher,” Garrity reports.
“Stephen Coleman, chief investment officer at St. Louis-based Daedalus Capital LLC, which owns about $7 million of Apple shares, told Bloomberg yesterday that he expects the stock will reach $600 in 18 months,” Garrity reports.
MacDailyNews Note: 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. See: Daedalus Capital CIO: Apple Inc. will hit $200 per share in 2007 – April 02, 2007
“All the buzz is helping the company convert a growing number of PC users into Mac computer buyers,” Garrity reports. “In its most recent fiscal year ended in September, Apple sold 7 million Macs, up from 5.3 million the year before.”
Full article here.
[Thanks to MacDailyNews Reader “Citymark” for the heads up.]
Coleman was right once, but “past performance is no indication of future results.”
Is this dejavu, cause I’m quite sure I read this $600 prediction a couple months ago.
$600 per share. Now that is a very, very sweet number.
As long as Steve Jobs doesn’t get hit by a truck $600 is not out of the realm of possibilities.
bald-faced speculation, but I’m not selling.
Do I smell a stock split?
Split stocks don’t do any good. That Doug-loser-guy mentioned a while ago APPLE stock would hit something like 300 by May. Bull crap. So as if I am going to buy a Mac now. Mac guys have more fun – right… like where in their mothers basements.
Oh and Mac owners are so much more wealthier and sexier – and really know how to party. Yeah. Nerds. Geeks. Losers.
Just because Apple stock is up – it means nothing about market share.Windows is better and more open to developers. My Office will never convert to any Macintosh computer. They are still too expensive, too fragile, too often replaced by new models. And fancy hardware has no place in the back of the factory. Oh man I got grease on the machine sir… shoot. Hahahahah.
Macs stink.
“Do I smell a stock split?”
No. There are enough shares out there. The price doesn’t necessarily have anything to do with a split. People were saying the same thing when it hit 100 and here we are.
@ No Split
Gee darn, You convinced me. I’m selling all my Apple and burning all my Macs.
First, I am not sure I made that claim. And dude, if I did, I am sure I wasn’t taken seriously. Still whatever it goes up or goes down. I have bought a long long time ago and where ever it goes I am very happy.
One thing though, I must admit, I wouldn’t put an iMac is some guys garage… even if he wanted to use my Garageband.
d
I don’t believe that for a second. Maybe $300 but $600 is that the analyst is smoking some really good stuff or there’s a motive behind spreading this kind of rumors.
For that kind of opinion, I find his invested commitment kind of light.
No Split=No Brains
NoSplit is having trouble concentrating with Steve J’s nads slapping him in the chin….
If you look closely, you’ll notice I said “Hell Yeah”.
And I stick by myself.
;P
600, here we come.
@ No Split
“Oh and Mac owners are so much more wealthier and sexier – and really know how to party.”
You’ve been looking at my pictures, haven’t you?
And now for a classic quote by D.L. Meyer…
April 2, 2007
“Apple shares were under-appreciated a few years back – they hit $14/share. Then they went up a bunch. Then they split! While the value of Apple Inc may double by the end of the year, the price of the stock will not. They will manage their stock price – currently over-rated (my opinion) – to keep it below $100, if possible.”
Oh Dave… How can being so wrong be so RIGHT?
Unless a stock has liquidity issues, in which case a split can be beneficial, there is nothing great about a stock split. A split is value neutral — you are not getting more for your money. I don’t know why people obsess about splits. Whether a stock splits 2 for 1, 3 for 1, or 6.8362 to 1, it makes no difference: the value of your shares decreases proportionally. AND the rate at which the stock rises (or falls) subsequent to the split is also slowed in direct proportion to the split, so you don’t “make more money faster.”
For those who feel that Apple “must” split, Steve Jobs was asked at the last shareholder meeting about AAPL splitting, and he cited Google, saying that he didn’t see any need to split the stock. My guess is that Mr. Jobs knows more about how to handle Apple’s stock than anyone on this forum.
Hmm, that would be $505 Billion, making them nearly as large as Exxon-Mobil, the largest company in the world ($585 Billion)
Stock splits are thought to make stocks more accessible to a general market especially if you wish to attract a lot of small holders.
Also, it has been shown (but I’m not sure where!) that stock splits very often result in a rise in the company’s stock value. Just one of those things.
John
70% to 80% of a stock’s movement is due to institutional investors, not small holders. Small holders–especially with the advent of hedge funds–play a very small role in a stock’s performance.
I’ve explained at length on MDN several times in the past why splits are meaningless and I’m not going to do it again. Whoever wants to believe that splits make a damn bit of difference are free to do so.
@Mark
“I’ve explained at length on MDN several times in the past why splits are meaningless and I’m not going to do it again. Whoever wants to believe that splits make a damn bit of difference are free to do so.”
Who cares?? And why do you care??
Lol. A good point.
Perhaps it’s just a pet peeve of mine when people believe that splits are the holy grail of investing, when, in fact, they’re meaningless in terms of profit potential.
If it happens, somewhere along the way, Apple’s market cap will surpass Microsoft’s. It’s possible Microsoft’s share price will also go up, but it is unlikely to keep pace with AAPL.
Mac = 200
MSoft = 25 – 30?
Mac = 5-6% market share
MSoft – 94-95%
What if Apple were to realy take off?
you do the math
If I get a Girl friend they will go that high
If not maybe not.
So if any girls want to help email me.
PS: If your nice, shares will go to 800 + soon and Will be a MS, Apple Showdown.