Apple at $1,001? It Will Happen within a Year, Says Analyst

by InvestorPlace Staff | April 3, 2012 11:32 am

Apple at $1,001? It Will Happen within a Year, Says Analyst

Apple’s (NASDAQ:AAPL[1]) stock performance has been known to exceed expectations a time or two, but now we’re at the point where analyst predictions for this already pricey equity are entering high orbit.

Topeka Capital Markets’ Brian White this week said AAPL will reach $1,001 within 12 months, a prediction that easily tops those offered by 45 analysts being tracked by Bloomberg. White added that at some point before the next decade is over, Apple — given its product lineup, potential for growth in China, and the likely introduction of new products, including a long-rumored Apple television — would generate more than a trillion dollars in annual revenue.

Bloomberg noted that White had previously covered Apple for Ticonderoga Securities, when he had set a price target of $666. The prediction closest to White’s $1,001 target is $910, set by Piper Jaffray analyst Gene Munster; next is $800, from Travis McCourt at Morgan Keegan.

So far in 2012, the stock has risen 53% this year on sales of the iPhone and new iPad, with shares trading at $629.39 early Tuesday and a market value of about $576 billion, well above that of previous leader Exxon Mobil (NYSE:XOM[2]).

Endnotes:
  1. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  2. XOM: http://studio-5.financialcontent.com/investplace/quote?Symbol=XOM

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