Apple Inc. (AAPL) Target Price Raised to $1001 by Topeka

iphone 8 apple stockElisaRiva / Pixabay

Apple Inc. (AAPL) Target Price Raised to  $1001 by Topeka

Topeka Capital Management has put a new target of $1001 on Apple Inc. (NASDAQ:AAPL) as the firm continues its reign as the world’s most valuable company. Topeka said that the company should meet the price target in the next twelve months. The price target is one of gigantic proportions. The analysis sees the company taking in around $160 billion in revenue this year and having an earnings per share of around $44.61. Apple at $1000+ has been talked about before though those estimates are usually in a longer range, most suggesting a 2015 date.

Brian White, the analyst who studied Apple, says that the company’s continued leadership and dominance in consumer electronics justified the high target. He said that Apple’s story was not yet finished and the next twelve to eighteen months would be a particularly exciting time in the company’s growth. Their dominance in consumer electronics was touted as almost entirely dominant and their smart phone holdings were another strength with increased demand coming from companies in China. The analyst believed that the only thing missing from the company’s line up was a television something he expects to hit very soon. Such a product has been dreamed of for several years and it would delight Apple fans around the world. The company’s iCloud service was also mentioned as being vital to the ecosystem the company was creating.

Apple has been the subject of much price speculation as of late with people wondering just how high the company’s value can go. Apple’s shares hit $600 last month only about a month after the company hit $500. The company’s success hinges on its continued dominance of the tablet market and success in the smartphone market as well as the innovation that the company has demonstrated in the last decade. It is the company’s innovation and ability to create new markets and then thrive in them that has carved out its reign at the top. After all who even knew what a tablet was five years ago. The company needs to continue to create new and exciting products that its dedicated fan base and the public in general can latch on to.

The company’s shares were up over 2% today at time of writing. The share are up by around 45% since the beginning of 2012 with the successful launch of their new iPad being key to the growth.

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