iPad Mini Sparks Renewed Hope for $1,000 AAPL

[Michael Essany]

Stocks on Tuesday exploded to the upside in the US with Apple similarly gaining in a buying wave that brought the iDevice maker back to the $650 range.

Apple Inc. jumped 2.37 percent. The world's most valuable company has invited the media for a "special event" on October 23, where it is rumored to unveil a smaller version of its iPad tablet dubbed "iPad Mini."

In response to news that Apple will likely unleash a barrage of new or refreshed products next week, market watchers and industry analysts are beginning to ramp up their expectations for how well shares of Apple will perform in the weeks ahead.

Jefferies’ Peter Misek is now setting a $900 price target on AAPL stock, with others estimating that $1,000 or better is on the horizon. "Using widely accepted EPS estimates," Jake Mann of Insider Monkey says, "which forecast solid bottom line expansion over the next two years, our year-ahead price target flirts with $1,000 a share."

As of this writing, AAPL is only $50 away from its all time high - a high that could easily be taken out by this time next week.

Sources: Barron's, Insider Monkey

[nzlotrfan]

$1000 PS would be nice!

[ayindesimona]

iPad Mini is very useful for the users as it is very easy to handled

[dustin942000]

iPad Mini is very useful for the users as it is very easy to handled

Uh true?

[Glocknine]

I would rather get the galaxy note2 instead of this rumored ipad mini, so much limitations on ios idevices. I have gs3 and Out of curiosity I wasted my money on buying iphone5 and yes my concern about i5 is true, CRAP.

[mmaboi21]

Uh true?

..

[unison999]

That estimate is way too optimistic.
iPhone 5 barely got AAPL above 700 and look at it now 644.
The only thing I see that would bring AAPL above 1000 is if they release that TV Jobs was talking about and if it is as innovative as Jobs think it is.

[Glocknine]

That estimate is way too optimistic.
iPhone 5 barely got AAPL above 700 and look at it now 644.
The only thing I see that would bring AAPL above 1000 is if they release that TV Jobs was talking about and if it is as innovative as Jobs think it is.

It might put apple to 1000 if the tv is cheaper than the best one out currently

[aidanharris]

Meanwhile at Google...