“Needham & Company on Monday increased its price target for Apple to $450, citing ‘materially higher’ sales of iPhone and iPad than were originally forecast,” Katie Marsal reports for AppleInsider.
“Analyst Charlie Wolf with Needham said in a note to investors that he has made an upward revision to his forecast, which prompted the price target increase from $375 to $450,” Marsal reports. “Wolf now sees Apple selling about 75 million iPhones in 2011, with the number growing to nearly 100 million in 2012. He’s also adjusted his model to represent the average life of smartphone ownership at just 1.5 years, as carriers have encouraged subscribers to upgrade more quickly and become locked into a new contract.”
Marsal reports, “Apple’s 15 million iPad sales in 2010 were 40 percent higher than Wolf’s previous estimate. In his new model, he sees Apple selling 30.1 million iPads in 2011, retaining 90 percent of the tablet market share, and another 46.5 million in 2012, good for an 80 percent market share.”
Read more in the full article here.
Apple’s going to the moon and fast.
Why stop at $450? Why not $500? A good a number as any. I saw David Blaine pull a coin out of his ass once. Is this the same trick?
Let’s not forget that of the amateurs and professionals that predicted Apple’s financials/sales last qrt, Mr. Wolf was dead last with a 13.93 error percentage.
Back here in the real world, AAPL has broken thru the $350/share barrier.
MDN seems to think that is unworthy of comment.
I was new to investing last year, and only bought Apple stock. Made a bunch of money. Now I’m told over 26% of that has to go to Uncle Sam. Meeting with an accountant next week, but do you guys have advice on how to keep more of my profit from being taxed to death? Damn….
@JJ
Don’t sell your AAPL. Capital gains tax only kicks in when you sell.
AAPL was up .45 more than GOOG, that’s nice.
@JJ
It’s 40% in the UK.
“How do you like them Apples!”.