Piper Jaffrey analyst Gene Munster has joined Topeka Capital Market's Brian White in predicting that Apple will increase the value of each of its shares to $1,001 with the next 12 months thanks, in particular, to it’s move into the Chinese market.
In a report Munster wrote: "Shares can reach $1,000 based on our belief Apple will continue to win in global mobile devices.” Munster is maintaining a shorter-term, formal target of $910. (More below...)
According to White, massive growth in China, the Apple Television and the next iPhone, will help Apple’s stock price rise to the heady heights of $1,001 per share within 12 months.
Apple’s stock closed at $629.32 last night, having hit $632.21 during the days trading. Over the past twelve months Apple’s share price has risen by around 80 per cent from $344.56 in 3 April 2011.