Brian White, the uncontrollable analyst, has once again topped the headlines. Famed for his previous April speculation that Apple’s market cap would soar in the untapped ranges of a trillion dollars, the optimistic analyst has yet again exclaimed that Apple Inc. (NASDAQ:AAPL) is glued to the rail with regard to becoming the most profitable publicly traded company. The Topeka Capital Markets analyst has unfaltering convictions that the Apple’s forecasted prosperity is predominantly bound to the anticipated product releases in September.
September will mark the outset of iPhone 5. This particular model has consumers glued to the edge of their seats. It is expected to be better than the previous models and most importantly to suffocate competition from the Galaxy S3 which was recently released by Samsung. September equally marks the onset of the iPad mini. The iPad mini’s anticipation has reached vitriolic boiling points as it will be a pioneer in its series.
Critics have not yet performed their usual lash outs. When they do, the most probable argument will lean towards White’s excessive bullishness. Some may even argue that it borders on fanatical thinking. Nonetheless, White’s forecast seems to have a slant towards the prevalent sheers in the market. Apple is moving in leaps and bounds. It has taken a huge leap from number 35 in the highly coveted Fortunes 500 list to its current position of number 17 (the ranking is based on revenue). It even trampled on computer big wig International Business Machines Corp. (NYSE:IBM). The most notable thing however was its exemplary performance with regard to profit rankings. It secured the third position in the list.
Currently, Apple is trading at around $580 and trading is expected to pick up following this new bullish outlook.