Analyst Andy Zaky predicts that Apple stock price will hit $2000 (£1237) by the fourth quarter of 2015.
The prediction, reported by Fortune, is based on past trends in Apple stock prices. Zaky points out that, on Tuesday, Apple was trading at just under 14 times its current trailing twelve months (TTM). Zaky predicts that Apple’s financial performance will triple in the next three years.
This prediction has lead Zaky to the conclusion that if Apple is still trading at 14 times earnings in quarter four of 2015, the price per Apple share will be beyond $2000.
Zaky says that he is “fairly confident” that Apple will sell 55 million iPhones in the first quarter of 2013, 80 million iPhones in Q1 of 2014, and 110 million iPhones in the first quarter of 2015.
“2014 is the golden age of Apple and the peak growth year,” said Zaky. “After 2015, growth will stall and Apple will become a mature company – at least for this era.”
In April, an analyst predicted that Apple could hit $1,200 a share within 12 months, and in May, we reported that Apple executives Scott Forstall and Millard Drexier cashed in on Apple shares worth over £38m in total.