Tuesday, June 19, 2012

Apple's profits to be highest ever for public company, analyst says

CNET - The irrepressible Brian White (Apple to hit $1,111 a share!) also says investors should think of Apple's market cap potential in terms of trillions, not billions.

Not the iPhone 5. But the iPhone 4 has been no slouch.
(Credit: Apple)
Analyst Brian White remains ever bullish on Apple.

White, you may recall, is the Topeka Capital Markets analyst who in April boldly declared that Apple's stock would eventually be worth $1,001 a share. A few weeks later, he pushed that up to the singular price target of $1,111 "over the next year." That would amount to Apple's stock roughly doubling in value.

This morning, the supremely optimistic Mr. White has focused in on Apple's profits, in a tabulation relayed by Boy Genius Report. In a note to clients, White writes that, as he reckons it, Apple is on pace in calendar 2012 "to generate the highest annual net income of any publicly traded company ever." Ever!

Last month, Apple turned up in third place on Fortune's list of most profitable companies, just behind Chevron and several lengths in back of Exxon Mobile.    More