Coleman: Apple $600 in 18 months
Stephen Coleman, chief investment officer at St. Louis-based Daedalus Capital LLC, has again reiterated his prediction that Apple shares will hit $600 in 18 months, only this time the story has been picked up by the NY Post and Bloomberg. He based his prediction on upcoming Apple quarterly financial report which he claims will show record iPod sales and a growing Mac business. Coleman predicts Apple will sell 23 to 25 million iPods and more than 2 million Macs and 2 million iPhones by the end of current quarter. Coleman’s Daedalus Capital LLC owns about $7 million of Apple shares.
If Apple shares were to triple their value in just 18 months, Apple would need to introduce new product lines and break into new markets worldwide.