Apple(AAPL) stock finished at a new high of $633.68 on the last trading day of last week, surpassing Google for the first time. AAPL commanded a market capitalization of approximately $600 billion, nearly three times Google. At the same time, analysts raised Apple stock price targets in this year to as high as $1001 per share.
AAPL stock strode into the rare $ 500 club for the first time on February 13, becoming the very company with the largest market capitalization in the U.S. capital market, more than the sum of Google (GOOG) and Microsoft (MSFT). While the marvel is still ringing in the ear, Apple stock price broke through the $600 mark only after a month, with the introduction to the market of the new ipad.
There are rumors that AAPL stock price’s exceeding Google was the wish of Apple’s late legendary founder – Steve Jobs, and also was why this man insisted on not splitting the AAPL stock , or his goal could not be realized
With Apple stock price rising, Wall Street analysts have to raise their originally optimistic projections on AAPL stock to new highs constantly.
Topeka Capital Markets analyst Brian White released his latest report, occupying the financial media headlines. He expects AAPL stock price to rise to $1,000 within the next 12 months, and Apple will become the first company whose market capitalization breaks through the $1 trillion mark in the history of the United States.
Piper Jaffray analyst Gene Munster also expects Apple stock price will reach four digits, but this will happen in 2014, slightly conservative compared with White.
According to the expectations of White and Munster, in addition to the strong expectations placed by consumers around the world on the new generation of iPhone, TV products and the Chinese market are also the two key drivers sending the AAPL stock price to the next milestone.
Earlier this year, Cathy Huberty, an analyst with Morgan Stanley, projected 2012 iPhone sales in China will reach 40 million units. China’s 3G users will reach 230 million by the end of this year, which will undoubtedly expand the iPhone’s potential customer base. In view of Apple’s mobile phone and tablet PC booms all over the world, Chinese market still has considerable potential to be tapped.
Apple stock price edged up slightly by 0.4 percent, or $2.55 to $636.23 per share on Monday.