“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.]