A leading analyst has recommended Apple stock as a 'Buy' as the iPhone maker sets record share price listings in the last few weeks.
The Associated Press reported Jefferies analyst Peter Misek note to investors on Tuesday, highlighting again the continued success of Apple's iPad tablet computer.
"We see plenty of more runway for (Apple), including considerable (2011) catalysts and a tablet market that we think is being vastly underestimated by the street," Misek said, offering a target price of $365 (£230). Misek is not alone, Apple stock currently has the most positive recommendations among 1,657 companies in the MSCI World Index.
Misek also anticipated Apple could offer a dividend or repurchase program. "A 3 per cent dividend is a possibility and well within Apple's earnings yield. As far as repurchase, Apple could undergo a repurchase of well more than 15 per cent of the shares outstanding while maintaining significant flexibility," Misek added.
Apple currently has $46 billion (£29.5 billion) in the bank, which according to CEO Steve Jobs may be used for possible acquisitions and other investments.
Apple is expected to report its fourth-quarter results on 18 October.