“More enthusiasm for Apple Inc. helped the tech sector show some signs of life Tuesday as an influential Wall Street analyst estimated the world’s most valuable company’s stock could reach $1,000 a share within two years,” Rex Crum reports for MarketWatch.
“Before the market’s open, Gene Munster of Piper Jaffray issued a research note in which he raised his price target on Apple AAPL +1.55% to $910 a share from $718, and estimated that the stock will reach $1,000 in 2014,” Crum reports. “Munster said such a valuation would make Apple the world’s first company with $1 trillion market cap.”
Crum reports, “Among the reasons Munster gave for his views are a belief that Apple will continue to gain global market share in mobile devices and there will be a greater shift in market cap from competitors over to Apple. The company already has a market cap of almost $600 billion, according to data from FactSet Research.”
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