Analyst: Apple stock will hit $300
Posted by Dennis Sellers 
Dec 27, 2007 at 12:05pm
Yared Investment Research CIO Georges Yared thinks that Apple’s stock will continue to grow and grow and grow; in fact, he’s raised his target price to US$300.
“Apple’s story is actually stronger today at $200 than when it was at $100, Yared says in a BloggingStocks post. “Why? Apple is experiencing massive momentum in all business segments AND it’s still early in all its product cycles. This is the amazing part and I must repeat—IT IS STILL EARLY IN ALL PRODUCT CYCLES.”
The Dec. 31 quarter, ending in four days, will be another blow-out quarter, he predicts. The estimates call for $9.3 billion in revenue with earnings per share of $1.50 or so. Yared says Apple is going to beat these numbers and once again forward estimates are going to go up. Currently, he has Sept. 30, 2008 fiscal year estimates at revenues of $31 billion and earnings per share at $5.25; fiscal year 2009, revenues at $38.5 billion and earnings at $6.35 per share. He says that:
° “The new Mac with the new Leopard operating system is taking the PC world by storm. In the September quarter, Apple sold 2.116 million units, almost 400,000 more than anyone anticipated. That is also just starting. The Mac is taking market share and will continue to do so all through 2008 and beyond.”
° “The Apple retail stores, 197 strong, average over $4400 of revenues per selling square foot, the highest of any American retailer. That was the 2006 sales per square foot number and that was before the iPhone or the new Mac. I think those numbers are going higher.”
° The iPhone is JUST beginning and remember this is a global story. iPhone numbers by year end will exceed 20 million units sold. Analysts estimates run right now between 12-14 million units sold by year end 2008.”
Apple’s stock closed at a high of $198.95 and climbed over $200 during Thursday morning trading, and topped $201 before noon (Eastern).
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 10,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
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