Apple To Hit $1,000 Share Price Next Year

Bangalore: According to the estimations it is noted that Apple would be the first to hit $1,000 share price in 2013. Reports from the analysts, however, are mixed up on Apple?s third-quarter results, to be announced on July 24. Morgan Stanley said on July 17 that it expects a ?relatively neutral event? for the company this time.

Other analysts found Apple?s prospects moving forward to a share price of $1,000 or beyond. When they say this, they have in mind the much expected release of iPhone 5 in or around October this year. The nearing Apple products such as the smaller ?iPad Mini? with 7-inch screen and Apple TV, and the rise in the sales of the company products in China, will also be reflected in the results, say the analysts.

Katy Huberty of Morgan Stanley told the investors on July 17, ?We are buyers of Apple shares heading into one of the most significant products cycles in two years ? the iPhone 5 launch this fall. We expect new products, emerging market growth and sustainable margin expansion to drive outperformance.?

Meanwhile, Brian White of Topeka Capital Markets, a full service broker-dealer offering agency, said to the investors last day, ?we believe the stock is prepared for the next major leg up that we believe will propel Apple to our $1,111 price target over the next year.?

Gene Munster of Piper Jaffray, a leading investment bank and asset management firm, is sure that the iPhone will keep taking the market share. In a survey conducted by the firm over 400 consumers, 65% of them said that they have planned to make iPhone their next smartphone. It was also noted in the survey results that the re-buy rates of iPhone has increased slightly from 93% to 94% over years. Most of them who planned to buy iPhone were waiting for the launch of iPhone 5.

However, Apple says that it expects third quarter sales of $34 billion and profit of $8.68, while the analysts expect $ 37.4 billion and profit of $10.8 billion.

Source: http://feedproxy.google.com/~r/sitechnews/~3/vxNyWtevyXQ/Apple-To-Hit-1000-Share-Price-Next-Year-nid-123774-cid-2.html

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