Analyst raises Apple stock prediction from $450 to $540
Tech analyst Charlie Wolf released an update to his watch of Apple stock, raising his February prediction of $450 to $540 behind the strength of 54 million iPads and 108 million iPhones to be sold in 2012.
Tech analyst Charlie Wolf, of Needham & Company, released an update to his watch of Apple stock, raising his February prediction of $450 to $540 behind the strength of 54 million iPads and 108 million iPhones to be sold in 2012.
Wolf's analysis shows the iPhone still being the major chunk of Apple's profits, accounting for nearly 50 percent (value per share). Perhaps surprisingly, the iPad is predicted to jump Mac sales bringing in 12.2 percent while the Mac holds at 11.8 percent.
As noted by AppleInsider, the largest increase in value by Wolf's predictions comes from iTunes, jumping from 3.4 percent to 5.1 percent. Wolf credits "explosive growth in iOS applications sales" for the boost.
How high can Apple's stock rise given its continued success in the marketplace? Let me know your thoughts in the comments!