“Apple’s stock will top $1,000 within a two-year timeframe, driven by the possible launches of iPhone 5 and an Apple TV before Christmas, as well the tech giant’s relationship with China Mobile to sell devices in the world’s largest mobile-phone market, analysts tell CNBC,” Jean Chua reports for CNBC. “‘I couldn’t be more bullish on Apple right now,” Brian White, Analyst with Topeka Capital Markets, a broker-dealer, told CNBC Asia’s ‘The Call’ on Tuesday. ‘When I look forward to the fall, we have got an iPhone 5 expected in September, I think we are going to see an iPad mini at the same time in September, we have got an Apple TV that’s clearly on its way in the next several months… I couldn’t get more excited about Apple.'”
“White, who was the first to breach the $1,000 price-target mark with his $1,001 stock-price forecast for Apple, raised it further in April to $1,111 within a 12-month timeframe,” Chua reports. “Scott Sutherland of Wedbush Securities agrees that Apple’s stock uptrend remains intact, and believes that the tech giant could be a trillion-dollar company by as soon as two years, translating to a stock price of just over $1,000.”
Chua reports, “‘It will be choppy in the near term but I think we are going to finish the year very strongly,’ Sutherland, Managing Director of Equity Research at Wedbush said. ‘You take out the cash and next year’s numbers, Apple is trading less than 10 times earnings and it’s a company that’s still growing 20 percent plus. So it’s a cheap stock out there and if they keep delivering on the numbers and strong growth, $800 is just going to be a stop-off point.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]