“He’s probably the most notorious Apple bull on the Street, but Gene Munster’s upside expectations for Apple stock (AAPL) are eye-popping, even for him,” CNBC reports. “His price target is $607.”
“$607? Considering the stock was slightly below $400 at the time of writing that’s a big move,” CNBC reports. “But Munster is resolute.”
CNBC reports, “‘I’m expecting shares to be driven by new product roll outs,’ he says. ‘In 2012 there will be new hardware on iPads and iPhones and we believe a new Apple TV is coming late in the year.’ …And equally important, Munster is expecting Apple to do something with all that cash they have on the balance sheet. ‘By next year, Apple will have $120 in cash and they’ll have to do something,’ he says. ‘I don’t think they’ll buy back but I do think they’ll issue a one time dividend.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]