This morning, Hudson Square Research analyst Daniel Ernst “raised his price target for Apple (AAPL) to $500, from $300, while repeating his Buy rating,” Eric Savitz reports for Barron’s. “That’s the highest target for the stock among Street analysts tracked by Thomson First Call.”
Savitz reports, “‘With the launch of the iPhone, the App Store, the iPad, and the relaunch of Apple TV, we estimate Apple’s total addressable market for hardware, content, and services expanded from roughly $400 billion to $1.5 trillion,’ he writes in a research note this morning. ‘Apple’s Mac share has doubled over the last five years and we believe could double again. In a little over 3 years Apple has captured less than 3% of the mobile phone market by units, but by revenue Apple holds a ~14% share. The iPad is off to a strong start, and the product greatly expands Apple’s addressable market for content distribution. While the new Apple TV and iAd are still in the very early stages, we believe the opportunity is very strong.'”
Read more in the full article here.
MacDailyNews Take: Don’t forget the new iPod, especially the iPod touch. Poor iPod touch; people always forget about you, even as you sell in the millions per quarter, but we always remember and love ya!
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]