In a note to clients — as reported by “The Silicon Valley/San Jose Business Journal” (http://macte.ch/ykE1c) — Topeka Capital Markets analyst Brian White raised his estimates after the company’s big earnings this week, predicting it will become the first trillion-dollar company sometime next year.
That is based on White raising his stock price target to US$1,111 a share from the $1,001 estimate he projected earlier this month.
“Apple’s performance once again demonstrated how quickly Apple fever is spreading around the world and this trend continues to drive meaningful upside in the company’s financial results,” the analyst says, adding that “negative vibes” that drove down the company’s stock this month will be replaced by fears of missing its next big up-swing.
White also bases his prediction on his belief that the company will roll out an Apple-branded HDDTV, an “iPad mini,” the iPhone 5 and a new relationship with China Mobile within the year.