Could Apple Stock Hit $1000 Per Share?
Last quarter Apple reported earning over $13 billion. This puts their revenue at well over $46 billion and far beyond the what analysts expected (Reuters predicted $39 billion). Apple CEO, Tim Cook issued a press release exclaiming:
“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,”
“Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”
Sales for Apple included over 15 million iPads, over 5 million Macs, and over 15 million iPods. All these products increased sales by at least 21% and iPad jumped an astounding 111%! These numbers are ridiculous, sales are climbing at an incredible rate.
In fact, Apple sales climbed almost 35% since the beginning of last quarter and climber over 56% since last year! With current market prices at $500 per share and market cap at almost $400 billion, speculators are wondering how high the stock can climb.
In an interview with CNBC, Apple co-founder Steve Wozniac commented on what he thinks about the future of Apple:
“You know, people talk about $1,000 stock price … you know, at first you want to doubt it but I actually believe that and I don’t really follow stock markets,”
“Apple is on such a winning course because it’s encapsulated all of its different big products that I mentioned, they all work together so well that you are in a course that if you buy a product from another company it doesn’t really do as much as one from Apple does. So Apple has a large room for growth,”
He also talked a little about products like Apple TV and how they could impact the overall health of Apple:
“Apple has that much growth left because we’re talking something like Apple TV that works with all these other great, great companies and products all in the same sphere,”
“It’s not like a side project ‘we’re going to start a TV company’. No, we’re going to start TV within the whole Apple world. Assuming that we are going to, I don’t know,”