Apple stock: forget $300, make that $600
Posted by Dennis Sellers 
Dec 27, 2007 at 6:03pm
Yared Investment Research CIO Georges Yared thinks that Apple’s stock will continue to grow and has raised his target price to US$300. But forget $300? Why not $600?
Stephen Coleman, chief investment officer at Daedalus Capital, which owns about $7 million of Apple shares, projects the stock will hit that number in 18 months. “There’s so much growth to look forward to for the iPhone,’’ he told Bloomberg.
Apple gets about 30 percent of the iPhone fees charged by carriers, Coleman said. Wall Street analysts’ estimates range between 5 percent and 20 percent, he told Bloomberg. Neff was among at least 10 analysts who raised their price estimates for Apple above $200 in October.
What’s more, the iPhone has helped Apple evolve from “a company dependent on one hit product to one with multiple growth engines,’’ Andy Neff, an analyst with Bear Stearns & Co., wrote in a Dec. 6 note. He raised his share-price estimate to $249 from $243 and his earnings projection for the year ending in September by 2.9 percent to $5.40 a share.
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 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.
