Apple’s Biggest Bulls Looking for Trillion-Dollar Market Cap

2012 has been an extraordinary year for Apple’s stock. Shares in the company have been on a tear since it posted monstrous first-quarter results in late January that far exceeded Wall Street’s expectations.

On that day, AAPL was trading at $420.31. Now, six months later, it’s hovering around $602. That’s a jaw-dropping rally. At that price, Apple shares are up about 48 percent for the year. And bullish observers continue to predict they’ll hit $1,000 by the end of next year which would give Apple a market cap of $1 trillion.

That’s an awfully big valuation. Is it reasonable?

David Einhorn, founder and president of hedge fund Greenlight Capital, believes it is. During an appearance on CNBC this morning, Einhorn was asked if he sees Apple becoming a trillion-dollar company. His answer: “I would expect.”

“Apple is the best big-growth company we have,” Einhorn said. “It is the dominating brand in the area that it is in, and it trades at a multiple below the average in the S&P 500. I think that’s extraordinary.”

Einhorn professed himself to be an Apple bull, and he doesn’t see that changing anytime soon.

“We’re two, three years into the Apple investment, and the way it seems headed, it’s likely we’ll be there for a good while longer,” he said. “I think the stock is very, very substantially undervalued.”

Via: AllThingsD

Prateek Panda

Prateek is the Founder of TheTechPanda. He's passionate about technology startups and entrepreneurship and enjoys speaking to new founders every day. Prateek has also been consistently regarded as one of the top marketing experts in the region.

Recent Posts

Remote working is bringing about a leadership evolution

It was COVID-19 that truly heralded in remote working culture, and ever since, workdays have…

16 hours ago

As US restrictions blow the chip industry where will the chips fall?

As tensions between global superpowers escalate, semiconductors, those tiny chips powering everything from smartphones to…

3 days ago

AI Launches: Fashion, EdTech, speech tech, monitors, fintech, data, trading, cloud, AI defense & model

The Tech Panda takes a look at recent launches in the superfast field of Artificial…

4 days ago

6 Automation tools every 2D animator should master in 2025

As the animation industry continues to evolve, automation is becoming a critical ally for 2D…

4 days ago

Can you really find parking in 5 minutes? Tech promises a breakthrough in Delhi-NCR

If you’ve ever circled endlessly in Delhi-NCR’s crowded streets, searching for a parking spot while…

7 days ago