“Eyebrows raised on my scenario explaining how Apple (AAPL) stock could reach $800 per share,” Richard Saintvilus writes for TheStreet. “People called this notion loopy. Apple shares closed Thursday at $538.79, roughly 48% below my price target.”
“But is Apple at $800 a crazier prediction than the $1,250 per share target Carl Icahn believes the company can reach in two years?” Saintvilus writes. “Ask Cantor Fitzgerald analyst Brian White. While citing strong revenue growth from Apple’s relationship with China Mobile, White issued a $777 price target on Apple shares back in January. When you consider that Apple stock has already appreciated 41% in the past 12 months, I don’t see what’s so crazy about the 40% to 50% rise that my price target calls for.”
Saintvilus writes, “It’s going to happen sooner than you think.”
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