Apple stock could be the highest ever by any publicly traded company, according to Topeka Capital analyst Brian White, who believes that Apple’s stock is actually worth more than $1,000 per share.
The company’s stock ended the tracking day Monday at $585.78 per share, making White’s prediction more than double the amount it is currently being sold for.
According to Mac Observer, White stated that:
“We believe investors should think of Apple’s market cap potential in terms of trillions, not billions.”
His statement was helped by the fact that Apple’s stock continued an upward trend, gaining $11.65 per share on Monday. This makes the company that Steve Jobs helped found have a market capitalization of $547.7 billion, a valuation only a small amount of U.S. companies have achieved, including Cisco, Exxon-Mobil, General Electric, Intel, and Microsoft.
College News notes that White, who wrote to his clients on Monday, stated that:
“In CY12, we believe Apple is poised to generate the highest annual net income of any publicly traded company ever. On average, we estimate Apple’s net income in CY12 will be over 6x higher than the three tech companies on an individual basis (when at a $500 billion market cap) or 1.9x the aggregate profit of these three companies combined. When including all five companies, we estimate Apple’s net income in CY12 will be 4x higher than the average.”
Apple’s stocks have already traded at over $600 per share this year, and the company posted the most profitable first quarter in history among technology companies, according to College News.
Brian White also notes, according to Mac Observer, that each of the companies who crossed the $500 billion marker have seen a retreat to a much lower market cap over time, including Microsoft, who crossed the $600 billion mark in late 1999, only to be worth $250.7 billion today, less than half of Apple’s stock worth.
He continues to defend Apple’s record though, noting that:
“Most of these companies enjoyed rich P/E ratios (except Exxon) when crossing $500 billion and the tech-related companies had monopoly-like market share positions, neither of which is the case for Apple.”
CNET reports that Brian White has estimated Apple’s stock to be worth $1,111 “in the next year.”
[Image courtesy of Digital Trends]