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Is it possible that the price of one share of Apple stock might cost you $1,111 within a year? According to one analyst, it very well could.

Earlier this month, Brian White of Topeka Capital Markets went on record saying that he felt the Apple share price was headed towards $1,001.  Shortly after his prediction the stock took a pretty large hit which left many to wonder if the party was over when it comes to the stratospheric growth Apple was experiencing.  Shortly after the latest earnings were announced, the stock returned to familiar territory, climbing $50 a share the next day.

Now White is back with a new prediction of $1,111 a share, and he's saying it will hit that level within one year.

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.  We believe the negative vibes that have held back the stock over the past couple of weeks will now be replaced with the fear of missing the next leg up in the stock price that we are forecasting will reach $1,111 over the next year.

While his prediction is pretty far afield from what other analysts are targeting, how he arrives at this number is even odder.

Apple is trading at just 8.1x (ex-cash) our CY13 EPS estimate, combined with our expectations for accelerated momentum over the next year with the iPhone 5, an Apple TV, an 'iPad Mini' and a potential relationship with China Mobile, gives us confidence that the stock has meaningful upside potential from current levels.

As you can see, a lot of his explanation is based on products that don't even officially exist. Yes, analysts are supposed to account for changes in a company's product mix, and while many of us do believe the Apple TV exists, no one is quite as sure on the iPad mini.  Even if both products are in full development, we have no guarantees that either or both will launch within the next year.

Of note, there has been much talk of Apple possibly becoming the first company in history valued at $1 trillion.  To do so the stock would need to hit a value of $1,072 per share.  White's estimate easily gets the company past that milestone, but to do it within a year seems a bit difficult to believe.

[via AllThingsD]