Bullish Apple analyst Charlie Wolf is blown away by Apple’s fundamentals – so much so that he recently upped his stock target on the stock from $280 to $375. Here’s why:
Explosive iPad sales.“We forecast that iPad sales would reach 20 million in 2019, the final year in our valuation exercise. iPad sales are already tracking over 12 million annually even before a full international rollout. Meanwhile, the device remains in chronic backlog.”
A shift in the Mac’s trajectory. “Mac sales are tracking to 14 million units in calendar 2010, more than 50% higher than the number we previously forecast for the year.”
Rapid iPhone upgrades.“The recent iPhone 4 launch indicates that current iPhone owners are upgrading much faster than we previously assumed. This will increase total iPhone sales even as the installed base of iPhones grows roughly in line with our previous forecast.”
via Fortune
Mon, Aug 9, 2010
Finance, News