The Crazy $1,650 Apple Stock Call (AAPL)
The race for the $1,000 share price is still underway, but one call on Apple Inc. (NASDAQ: AAPL) almost sounds as though Apple-mania is in full swing. Shares hit a new all-time high today of $621.00, but now there is a call well above the $750 street-high price target. One hedge fund manager has made the case for Apple shares trading up to $1,650.00 by the end of 2015.
Forbes ran an article on this with more detail last week, but today’s revisiting the call is based on a CNBC appearance by Eric Jackson of Ironfire who contributed to Forbes on the article. His whopping $1,650 call was not just a straight line call. Jackson noted that he thinks you will probably see $500 before you see $700 because the move has been so monumental of late.
Jackson talked up 50 million Mac units being sold by 2015 and as many or more tablets being sold as the number of total PCs being sold. He also thinks that Apple’s TV move is going to be much larger than any of the analysts believe. Other initiatives are that Apple should grow its iAds operation and its payments operations.
When you see calls like this it is hard to not scratch your head and wonder if the mania is at a peak. Still, this is Apple and no one likes to ever write anything about caution when it comes to the world’s most valuable company.
JON C. OGG