updated 02:50 pm EDT, Mon April 2, 2007
Apple Worth 200 Per Share
Apple's stock should double its current value, financial expert Stephen Coleman said today in a bold prediction. Despite the company's shares topping $90 in recent weeks, Coleman notes that its prospects are a "screaming buy" compared to what they have been in the past, pointing to both the 100 percent surge Mac sales compared to a year ago as well as the 50 percent increase in iPod sales. The Apple TV, iPhone, and Mac OS X Leopard were also bound to drive the firm's worth well past what it has been at the start of the year.
"We dare not guess what these sales will be," Coleman wrote. "But, we believe they will be huge. We see a melt-up [for Apple] coming in 2007, regardless of general market conditions."
The prediction has been made considering what Apple did with digital music, he says. While the iPod in January 2004 accounted for only 3 percent of all of Apple's income, its breakthrough popularity took it to 40 percent today and grew the company as a result. If Apple's new devices this year achieve similar results, the company could be the first to achieve a trillion-dollar market value. The investor suggests that this could become a practical reality within the next five years if Apple continues on its current path.
The device maker has recently garnered attention for being consistently ahead of the curve in its recent sales, growing even its notoriously slow Mac sales at a 30 percent rate well ahead of most other computer builders.