AAPL $1,000 Target $1Trillion Revenue Forecast Announced

Bloomberg reports:
Apple Inc., already the world’s most valuable company, will see its stock price reach $1,001 within 12 months, lifted by growth in China and the debut of a new television product, according to Topeka Capital Markets. 
The new target, issued yesterday by Topeka’s Brian White, is the highest among the 45 analysts tracked by Bloomberg and represents a 62 percent increase over the current price. 
The gains will be fueled by demand for the next iPhone, in addition to the expansion into China and the TV market, he said. “Apple fever is spreading like a wildfire around the world,” White said in a report, which initiated coverage of the company with a buy recommendation. 
Apple will get to $1,001 by introducing a TV within a year, as well as an upgraded iPhone that works with speedier wireless networks, he said. [...] 
Apple’s stock also is getting a boost because of a relatively seamless transition since the death of co-founder Steve Jobs, he said. The stock has risen more than 60 percent since he died in October. Tim Cook had assumed the role of chief executive officer from Jobs the previous August. 
“Steve Jobs’s health was such a fear that was hanging over the stock,” White said in an interview. “Now you’ve seen that Tim Cook is doing a good job.” Steve Dowling, a spokesman for Cupertino, California-based Apple, declined to comment on the report. 
Apple’s management should aim to become the first company to generate $1 trillion in revenue, a goal that’s achievable in the next decade, he said. Apple had sales of $108.2 billion in its last fiscal year, which ended in September. [...]
Top of the Heap White previously covered Apple for Ticonderoga Securities LLC, where his last price target was $666. The next closest prediction to his new $1,001 target is the $800 target of Morgan Keegan’s Tavis McCourt.
Share price target of $1,000 after a parabolic 60% rise, expectations of revenue raising by 1,000% in 10 years. These kinds of forecasts appear only during manias, and are more likely to be a sign of a top than of an imminent bull run.

Thanks to my friend SS for forwarding me the report.

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