Investing in Apple
12.02.06 - 09:46am
It’s not too late to invest in Apple. “Apple shares have been on a tear the past few months, and with holiday shoppers feverishly snapping up more Macs and iPods, the company’s stock looks like a sure bet to cross the $100 mark,” Katie Dean reports for TheStreet.com.
Apple’s shares have more than been on the tear just this last month. It has doubled in just over a year and “by historical standards are still relatively cheap” said Richard Stice, an equity analyst with Standard & Poor’s. The share’s have reached an all time high of 91.80 this week and appear to still be rising.
Analysts say PC shipments are expected to be up 10% this year with Apple growing at an even faster clip. Even though the iPod shuffle is cheaper than other iPod’s it can be a gateway for more spending later and is one of the hottest items for the holiday season. 2007 is expected to deliver for Apple. Rumors of the iPhone, new iPods, video iPods and iTV. which will allow people to access music and videos stored on their computer wirelessly through their home entertainment systems are all propelling Apple’s stock. Dean says “All are expected to appear sometime next year.”
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