Analyst: Apple shares will hit $600 in 18 months

“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.]

53 Comments

  1. 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.

  2. 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

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