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Thread: Forbes Outlines Why AAPL Will Hit $700 Again

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    MMi Staff Writer Michael Essany's Avatar
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    Default Forbes Outlines Why AAPL Will Hit $700 Again


    If you haven't been paying attention to the Wall Street tickers lately, the Dow Jones Industrial Average and S&P 500 Index are on fire, hitting all-time highs on a number of occasions in recent days.

    But not all sticks are seeing the same upward momentum of the major indices. In fact, among the more stagnant stocks is Apple.

    At just under $520 per share, AAPL remains close to $200 below its fall 2012 highs. But, according to a new report from Forbes, AAPL will likely return to these lofty levels next year.

    Why? The report cites ten good reasons, one of which is as follows:

    Apple is cheap relative to its historical valuation. Apple’s average 10 year P/E ratio is 17.5 times earnings. At 17.5 times earnings this would put the stock around $700 a share.
    Although some of the ten reasons presented seem dubiously speculative at best, the list is opening eyes today. But will it inspire investors to return in droves?

    To check out the Forbes report in its entirety, click here.

    Source: Forbes

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    It was around this time last year that apple was supposed to hit $1000 a share but what we saw instead was a drop below $400 a share twice this year.

    The people at Forbes obviously have more experience and resources than I do to come to their conclusion but they've been wrong before--in a huge way.

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    .artwork assassin Jato_BZ's Avatar
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    Same old analyst BS talk...Actually Jon you are right, I remember that same BS last year about the $1000 a share...never happened...
    Twitter ID: @Jato_BZ
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    King Kong ain't got nothing on me! King_O_Hill's Avatar
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    Who cares, I got in again at the low! Apple is the best stock that I've bought, sold, bought, sold, bought ...

    Plus the cash dividends are great!

    You get the picture!
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