Apple is set to become the world’s first 41 trillion company by 2014, according to Piper Jaffray analyst Gene Munster, boosted by sales of iPhones, iPads and Mac computers.
Munster says that Apple should target USD910 per share within 12 months, buoyed by potential product releases such as the iPhone 5, before surpassing the USD1 trillion barrier a year later, driven by iPhone sales.
He adds that some 70% of all consumers with iPhones that are two years old or more will upgrade between now and 2015, accounting for a third of sales every quarter until that year.
Munster is upping his iPhone sales forecast by 10%, expecting Apple to shift 33m iPhones this quarter, ahead of Wall Street predictions of 30m.
However, Munster’s bullish forecasts for Apple’s stock are being greeted with scepticism from some, with Apple only recently smashing the USD600 per share barrier.
