Apple Remains Top Stock Pick for 2012, Says Leading Analyst
On Tuesday, the first official full day of trading on Wall Street for 2012, shares of AAPL surged more than $6 to hover above $411 per share, rapidly approaching the stock's all-time high following a few rough months for NASDAQ and the tech sector as a whole.
Not surprisingly, this week many Wall Street analysts are making their top picks for stocks to watch in 2012. And despite some initial concerns in late 2011 - like the death of Steve Jobs - Apple was once again named the top stock to watch and invest in during the new year.
This is according to Ticonderoga Securities analyst Brian White, who said Tuesday that he is all bulled up about the iPhone maker.
"We believe Apple's portfolio in 2012 has the opportunity to create more excitement around the story with our expectation for the unveiling of iTV, an 'iPad mini,' and a major upgrade with the iPhone 5, while we expect the company to finally come to grips with its surging cash balance and issue its first cash dividend," White says.
Although anyone who still believes an "iPad mini" is coming should probably be watched with a cautious eye, White's sentiments are largely on par with those expressed everywhere around the financial investment world today. Apple was a hot investment property in 2011. And it will probably be even hotter in 2012.