Munster Maintains $160 Apple Stock Price Point
06.27.07 - 05:28pm
Apple’s stock has been fluctuating up and down all month usually maintaining a range in the $120’s as the debut of iPhone looms closer and closer.
The stock plummeted on false news of a temporary delay and has seen quality jumps as analysts have continued to raise their target prices from $120 to $140 and now to $160 a rating that Gene Munster is maintaining saying that the iPhone will match the iPhone hype.
Munster was especially pumped about the iPhone’s aggressive service plans. “The service plans are about 25 percent cheaper than we had been expecting,” he said. “Which is a positive, as it removes one of the barriers to entering the market.”
Munster said that upon comparing the overall plans with other smart phone plans he found the iPhone to be cheaper. He noted that if you put the $499 phone price, plus the $36 activation fee and mid-range $79.99 monthly service fee, the iPhone costs $2,419 over two years. In comparison, the BlackBerry Pearl comes in at $2,429, and the BlackBerry Curve will cost $2,479.
Launch day which has been dubbed iDay will happen on Friday at 6:00 p.m. Munster has estimated that Apples larger retail stores will have as many as 10,000 iPhones available for sale and believes that 1 million phones will be available in the retail channel for iDay. For the first day he is calculating that upwards of 200,000 iPhones will be sold. He did also add that, “adequate supply could provide upside to our June quarter numbers of 200,000 units.”
Apple’s stock was up in after hours trading today to $122.20 a 2.18% increase over yesterday’s close.
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