Talk about aiming high. One analyst believes that Apple shares will eventually reach $1,001 per share. That’s quite a lot of money.
That would be 62 percent more than Apple’s current price. Here’s a portion of the original report:
He based his price target on his estimate for Apple’s calendar-year 2013 earnings, multiplied by 17. He notes that Apple shares carried an earnings multiple in the mid-20s from 2006 to 2010.
Apple shares rose to about $618.63 on Monday. That’s up $19.08 (3.2 percent). It just seems to keep going up, but $1,001 is quite a target for any company. Still, Apple is the most valuable company in the world, so if anyone is going to hit that high, it’s probably them.