“Apple recently blew past Microsoft, Cisco, and other companies to become the most valuable tech company in the world,” Henry Blodget reports for The Daily Ticker. “But that’s just the beginning, says investor James Altucher of Formula Capital.”
“Altucher thinks Apple will eventually be worth more than $1 trillion, maybe even $2-$3 trillion,” Blodget reports. “Apple is currently worth about $320 billion, so $1 trillion would be a price of about $1,000 per share.”
“Why does Altucher think Apple’s stock will go to the moon? Because Apple’s growth rate is astounding for a company its size, and the company’s global market share in its key markets–smart-phones, tablets, and Macs–is still very low,” Blodget reports. “Also, factoring out Apple’s massive $65 billion pile of cash, the stock is trading at a low price-earnings multiple.”
Blodget reports, “And what about the biggest concern most people have about Apple, the heath of its founder and visionary, Steve Jobs? Steve Jobs is indeed an amazing leader, Altucher says. But Apple is now large and diversified enough that, if Jobs can never return full-time, the company will be okay without him.”
Watch the 5:55 video here.