“Few enterprises in recent history have captured the imagination and stirred the emotions of consumers like Apple (AAPL),” Robert Paul Leitao writes for Seeking Alpha. “Ask almost anyone about their view of Apple and one is apt to hear spirited responses ranging from high admiration and praise for the company to complaints about the way Apple seeks to control virtually all aspects of the user experience and the content available to purchase through the various iTunes and app stores. No matter the strong sentiment about Apple, few can dispute the company’s extraordinary success and potential for continued growth.”
“There are, of course, macro economic factors impacting Apple’s share price performance and investors are currently trapped in a challenging market cycle,” Leitao writes. “But for the first six months of the current fiscal year Apple’s revenue has risen by 76.2% and earnings per share has moved higher by 83.2%. These rates of growth and anticipated similar rates of growth for the remainder of this fiscal year are not currently priced into the company’s shares.”
Leitao writes, “On May 31st I published a posted titled Why I’m Bullish on Apple. In that post I mentioned the company’s prospects for growth and the factors that will deliver outstanding revenue and earnings growth well into next fiscal year and put forward my current 12-month price target for AAPL of $590 per share.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]