Apple has gone from "beleaguered" to Wall Streetis darling, and analysts are expecting even more from their love affair. Following Georges Yared raised his target price for Appleis stock to US$300, Daedalus Capitalis Stephen Coleman predicted that the Mac and iPod maker will hit $600 in 18 months, according to the Bloomberg.
Mr. Coleman expects the iPhone, Appleis combination iPod and smartphone, will play a big roll in the companyis gains. In addition to revenue generated by unit sales, Apple also gets a cut of the service contract fees cell carriers charge iPhone customers.
"Thereis so much growth to look forward to for the iPhone," he said.
Mac OS X 10.5, or Leopard, and the latest Mac computers are also driving the companyis momentum. Appleis consumer-focused MacBook laptop was among the top selling computers during Amazonis holiday season, underscoring the resurgence in the Macis popularity.
Apple is currently trading at $200.25, up 1.68 (0.85%).