The world’s most valuable company is about to get even better and even more valuable. According to an analysis conducted by Topeka Capital Market’s Brian White Apple’s stock price will reach a whole new level and is heading straight towards the stratosphere, the analysis claims that Apple will see its stock price rise to a staggering $1,001 within 12 months, likely due to the recent growth in China and the arrival of a new television product.
“Apple fever is spreading like a wildfire around the world” – Brian White, Analyst.
The new target, issued yesterday by Topeka’s Brian White, is the highest among the 45 analysts tracked by Bloomberg and represents a 62 per cent increase over the current price. According to White Apple’s growth will get a big boost due to the following factors :
- introduction of a TV within a year,
- an upgraded iPhone that works with speedier wireless networks,
- Also the fact that China’s largest wireless network China Mobile Ltd. will start carrying the iPhone within a year and this would add millions of new potential customers.
- White also claimed that the seamless and smooth transition that took place at Apple’s helm has contributed to the growth. In the period between Steve Jobs’ death and new CEO Tim Cook’s taking over of the company their stock has risen more than 60 percent since October.
The result of the analysis further reveals that Apple is well placed and likely to become the first company to generate $1 trillion dollar in revenue,a goal that’s achievable in the next decade. It is interesting to note that Apple’s sales in it’s last fiscal year, which ended in September was $108.2 billion.
A few pointers that give a lot of credibility to White’s analysis are :
- Apple’s stock has already risen 53 per cent this year thanks to the iPhone’s soaring revenues and the launch of the third generation iPad last month,
- The shares have already climbed 3.2 per cent to $618.63 yesterday in U.S. trading,
- and Apple’s current market value is $576.8 billion, which is way ahead of the second place Exxon Mobil Corp. which is valued at $410.4 billion.
- In German trading also the stock was on the rise this morning, it had gained 0.7 percent which is equivalent to $620.67 on 9:46 a.m. in Frankfurt.
The next closest prediction is by Morgan Keegan’s Tavis McCourt, who predicts the target as $800, while Brian White’s last target when he previously covered Apple for Ticonderoga Securities LLC was $666. The silver lining according to White’s predictions are that the eagerly awaited and much hyped television set will alone generate a $100 billion dollar market opportunity for Apple and that the Mobile-phone subscribers in the China with access to 3G wireless networks could reach 230 million by the end of this year, bolstering the prospects of new potential iPhone buyers.