Over the past few days, Apple’s share price has steadily retreated from the brink of $300. At the close of trading on Monday, Apple shares were trading at $278.64 (though today it’s up 8 points). This fluctuation is of course part of the natural ebb and flow of the stock market, but in the grand scheme of things, Apple’s financial future has never looked stronger. In light of that, analyst Brian White of Ticonderoga Securities recently issued a comprehensive research note where he anticipates more good things for Apple going into 2011, along with a $430 stock target to boot.
White notes that Apple’s stock upswing will begin in a few weeks as Apple is poised to enter the holiday season with its strongest product lineup in recent memory – new iPods across the board, the iPhone 4, a brand new Apple TV, and of course, the still surging iPad. Apple is expected to sell approximately 7.1 million iPads in 2010, and White expects that figure to jump to 19.9 million in 2011 and 25.8 million in 2012.
As for the iPhone, which represents Apple’s new cash cow and accounts for 34% of its revenue, White believes that Apple’s iPhone 4 success is just getting started. Looking forward, White anticipates iPhone sales of 36.9 million in 2010, 49.1 million in 2011, and an astounding 71.1 million in 2013.