Piper Jaffray analyst Gene Munster has stated that he believes Apple shares could hit a whopping $1,000 once this year’s Mac and iPhone updates land. That’s despite Apple’s closing share price on Friday maxing out at a far lower (yet still impressive) $565.32.
Though Munster personally puts his projection closer to $910 a share, he concedes that a series of “meaningful” updates for the Mac and iPhone 5 could see Apple shares hit four figures.
So what’s going to propel this almost doubling in share price? According to Munster, the introduction of Ivy Bridge processors and Retina displays in the MacBook range will lead to a significant sales boost for the line, while he’s also anticipating “the biggest device upgrade cycle in smartphone history” for the iPhone 5.
Munster also predicts a 2012 reveal for the Apple TV, with the sets shipping out in 2013, while also predicting the iPad to continue to dominate the tablet market, responsible for 66 million of the 99 million projected sales of tablets over the course of 2012.
Increased enterprise adoption of the iPad and iPhone is also expected to continue to boost figures, while the rise of the Chinese “middle class” is aiding Apple’s fortunes in Asia.
By Gerald Lynch | May 28th, 2012