“With most forecasts, the exact number isn’t nearly as important as the direction of the call, but with Apple, I do have a specific breakdown,” Schwarz writes. “Certainly, the financial crisis of 2008 derailed much of the excitement over individual stocks, as it brought down all ships with the broad market. But now that the economic environment is improving, speculative capital will return to high-growth companies that are gaining market share. Apple is one of the few companies on Wall Street to have actually grown revenue during the recession. If it was able to grow during the recession, what will it do now?”
“My forecast is for Apple to sell an average of 14.8 million iPhones per quarter in 2011. This equates to a total of 59.2 million iPhone unit sales for the year or a 17.7% share of the expected 334 million unit/year smartphone market,” Schwarz writes. “See you at Apple $500.”
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
@asleep
No, i know the split. my original comment was the shares wouldn’t reach $500 because apple would split. but if we’re splitting hairs, you’d already have passed the title’s mark because apple has already had three splits, so your one share is now 8 shares for $1600
It’s nice to dream that my shares are going way up, but it seems to me that when ever the shares go above $200, Apple board members sell theirs and get rich. Is there a reason they are not waiting for them to go up higher like the rest of us…
So today the Street has decided to pump AAPL. I don’t trust anything the Street, but Apple will continue to outperform no matter what Cramer & Co have to say. $500? There are so many dynamic forces pushing and pulling, any guess is a wild one. But I am certain of this: it’s a good bet, and I have almost a 2500% gain already.
Apple don’t pay dividends so if their stock isn’t going up why own any.
The iPhone was a good start but Apple need to find another way to extort large amounts of money from a small number of people.
They’ve got something in the works and my bet is it will come with a monthly contract.
Guys apple is a good company but this article is written by street.com folks and that relates to Jim Cramer who try to promote all stocks he owns and big time AAPL, GOOG and GS.
I remember he use to talk about RIMM also but no longer as he already sold off his RIMM stake.
So be careful whatever you read on thestreet.com as Jim Cramer always try to boost his portfolio. He is a dick so be careful.