iPhone News Desk
Apple Bubble Swells and Swells
Apple is having a heady time on Wall Street
By: Maureen O'Gara
Apr. 5, 2012 05:00 AM
Apple is having a heady time on Wall Street.
Its stock pushed past $630 for a while Tuesday morning after its ax Gene Muster, the respected Piper Jaffray analyst recognized as having the most clout in the stock, pushed his 12-month price target from $718 to $910 a share.
His call, which said Apple could go to a thousand bucks or better in 2014 and make Apple the first trillion dollar stock in history, came a day after Brian White, a "who's he ?" analyst with Topeka Securities, thinking Apple TV and China, said Apple's good for $1,001.
Muster's call depends on equally speculative things like a 4Gen iPad with a sub-$400 price tag, an iPad with a smaller screen and a sub-$300 price, competitors like RIM tanking or shriveling, Apple keeping 60% of the tablet market and, defying the law of large numbers, expanding its smartphone share from 19% to 33% globally, and investors simply finding Apple irresistible and cutting out of other pet stocks.
He estimates Apple earnings in 2015 at ~$80 a share.
UBS and Morgan Stanley last month put hypothetical targets of $900 and $960 respectively on the stock.
Forbes says Apple must spit to catch the ordinary Joe Blow retail investor, who brings stability.
Apple had about 941.6 million shares outstanding at the end of December and most people still think it's still cheap.
Apple reports the March quarter on April 24.
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