How Apple's Stock Could Reach $1,000 (Update 1)
$960 per share would mean Apple pushing $1 trillion in market cap, a mind-blowing number. What's even more noteworthy is that as much as 20% of that value could potentially be in cash. Apple had $97.6 billion in cash at the end of 2011. The company's market cap was approximately 37% lower than where it stands today.
Apple is growing at such leaps and bounds, a price approaching $1,000 per share seems almost inevitable, as long as the company continues to execute on its plan.
TheStreet polled readers, and nearly two-thirds of the more than 3400 respondents believe Apple will hit $1,000 per share within the next or three years. Only 2.7% of respondents believe Apple will see $1,000 in the next six months, and 8.5% of those who voted expected Apple would hit the mark sometime this year.
One more thing (Steve Jobs reference) for Apple investors to consider. $960 per share doesn't take into account the oft-rumored Apple television set.
Interested in more on Apple? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >To follow the writer on Twitter, go to http://twitter.com/commodity_bull. >To submit a news tip, send an email to: tips@thestreet.comSelect the service that is right for you!
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