Investor James Altucher of Formula Capital thinks Apple will eventually be worth more than US$1 trillion, maybe even $2-$3 trillion, reports “Daily Ticker” (http://macte.ch/TVgY0).
Apple is currently worth about $320 billion, so $1 trillion would be a price of about $1,000 per share. the article adds. Why does Altucher think Apple’s stock will go to the moon?
Because Apple’s growth rate is astounding for a company its size, and the company’s global market share in its key markets — smartphones, tablets, and Macs — is still very low, he tells “Daily Ticker.” Also, factoring out Apple’s $65 billion pile of cash, the stock is trading at a low price-earnings multiple.