Consumer Electronics
Meet The $1,001 Apple Share Price Target (AAPL)
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Apple Inc. (NASDAQ: AAPL) is no stranger to analysts ratcheting their price targets higher and higher. While one case was recently made for Apple shares going to $1,650 by the end of 2015, a new formal street high price target has surfaced from Topeka Capital Management. The analyst is Brian White, formerly with Ticonderoga Securities before they closed, and he has issued a whopping $1,001 price target objective.
White’s target was previously $666 at Ticonderoga and the new iPad and coming products all helped in raising that price target for Apple stock. China is another catalyst along with the coming television efforts. His targets for this year are just over $160 billion in sales and $44.61 in earnings per share.
Apple has an off-calendar year-end and the estimates for fiscal 2012 ending this September are $44.01 EPS and almost $159.9 billion in sales. The $1,001 price target is based on a 17-times 2013 earnings target.
Apple shares are up 2.5% at $615.00 and the 52-week and all-time high on the stock is listed as $621.45. Apple’s market value today is $573 billion and here you can see just exactly how much it dominated the market performance versus the entire S&P 500 gains in the first quarter.
JON C. OGG
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