“There is a lot of love for Apple on Wall Street: of the 53 analysts with ratings on the company, 48 have a Buy and 5 have a Hold, according to Bloomberg data,” Josh Lipton blogs for Forbes. “No analyst has a Sell rating slapped on the stock.”
“The case for optimism is easy enough to understand: the Cupertino, California-based wonder, which has a market cap of $324 billion, makes sought-after products, sits on a mountain of cash and isn’t all that expensive, trading at just about 12 times expected earnings,” Lipton reports. “This morning, Joseph Beaulieu, a Morningstar senior stock analyst who covers Apple, published a research report in which he argues that Apple’s sales could very well double in the next 36 months. (In fiscal 2010, the company generated $65 billion in revenue).”
Lipton reports, “Of course, he’s also quick to point out that he hasn’t built in any expectations of new, unannounced products into his growth estimates. Given the company’s history of market-grabbing innovation, it’s worth betting that other shiny new gadgets will soon make their way into your living room. Beaulieu pegs fair value here at $475. The stock this morning is trading at $349.”
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