Wednesday, April 02, 2008 at 10:00 AM | Posted by kazouz
Will AAPL history repeat itself? Those familiar with this iBall column know it’s an opportunity I take to opine on Apple’s stock price, and if I may toot my own horn, I’ve been rather accurate.
Back in September 2007, Apple’s stock price was in the 140’s. Once it hit 150 in late September, it proceeded to climb incrementally by 10 points each week, hitting 190 by the last week of October.
If history is any indication of what Apple’s stock price is capable of once it hits 150, we’re in for a wild ride. Some may argue that Apple was leading into the Holiday shopping season or that the iPhone was breaking all kinds of sales figures at the time. Let’s look at Apple’s immediate future: Rumors of an imminent 3G iPhone release are blanketing the web; The iPhone SDK will offer thousands of new applications for the iPhone which means more money in Apple’s bottom line, and many more iPhone and iPod touch sales; Apple is about to announce earnings on April 23rd; Apple is having trouble keeping the iPhone, and MacBook Air in stock, which means there’s an extremely high demand for both products; While the list goes on and on, I will leave you with this, the Mac has hit 21% marketshare in the U.S.
Piper Jaffray analyst Gene Munster is recommending the stock as a BUY with a price target of $250. In my opinion, it’s very likely we’ll see a repeat in the stock price over the next two months.