Notoriously bullish Apple stock analyst Gene Munster has upped his share target again to $910.
Apparently not able to stand the thought that an analyst announced a target price of $1,001 for Apple shares yesterday, Gene Munster announced his new target this morning in a note to investors. Having recently raised his target to $718, Munster has now moved it up to $910 within the next year, but he doesn’t rule out the possibility of $1,000. “We believe shares of AAPL will reach $1,000 in CY14, which would imply a roughly 1 trillion dollar market cap, the first in history,” he said in the note.
Munster did point out that some of this does hinge on the release of the mythical Apple television set, but not all of it. “While some investors believe the biggest issue for AAPL to get to $1,000 is the market cap along with excessive investor exuberance, which we address in this note, we believe the real story is earnings growth.”
Shares of Apple are up around two percent this morning to the $631 range.