Analyst Sets $450 for Apple Shares on LTE, 4G iPhones and iPads

By

Photo by Sanjay Parekh - http://flic.kr/p/7yR7kL
Photo by Sanjay Parekh - http://flic.kr/p/7yR7kL

Following Tuesday’s long-predicted announcement of a Verizon CDMA iPhone, one analyst sees Apple stock rising to $450 per share, up from a previous target price of $365. Peter Misek of Jeffreries & Co. seems to base his Wednesday note to investors on a belief the Cupertino, Calif. is not done surprising consumers.

Misek predicts Apple will unveil an iPhone for Long Term Evolution networks (sometimes known as 4G) by October, a GSM-based iPhone 5 in June and a 4G-based iPad in late 2011. Also, the analyst describes “multiple products to assault the living room” and cloud-based services also appearing this year.


As a result of such potential, the analyst increased his sales estimate for Apple’s two top products. He sees the company selling 72 million iPhones in the fiscal year ending September, up from his previous 61 million projection. As for the tablet, Misek expects Apple will sell 36 million iPads, up from his previously expected 31 million.

Increased sales expectations naturally led to higher projected revenue for Apple. The firm could rake in $104.6 billion for the fiscal year ending in September, up from a past projection for $94.6 billion, the analyst tells investors.

[Barron’s]

Newsletters

Daily round-ups or a weekly refresher, straight from Cult of Mac to your inbox.

  • The Weekender

    The week's best Apple news, reviews and how-tos from Cult of Mac, every Saturday morning. Our readers say: "Thank you guys for always posting cool stuff" -- Vaughn Nevins. "Very informative" -- Kenly Xavier.