Apple introduced great new iPod features at its special media event on Wednesday, but AmTech analyst Brian Marshall thinks investors are more interested in the Mac and iPhone. If the company can double its marketshare, it could hit US$100 billion revenue, drawing even more interest from investors.
"We believe Apple can approach $100 billion in annual revenue within the next five years if the company doubles its market share in handset/PC markets," Mr. Marshall said. Apple's current marketshare is sitting around the five percent mark.
Another positive for investors was seeing Apple CEO Steve Jobs take the stage at the event. Mr. Marshall commented that Mr. Jobs "appeared energetic --albeit thin -- and happy to be back in the mix of things."
On the down side, there was disappointment that the rumored camera support materialized only in the iPod nano and not the iPod touch. The new iPod nano includes a built-in video camera and microphone, speaker, pedometer, and FM radio. In comparison, the new iPod shuffle gained a performance boost, lower price and a 64GB model.
Looking forward, Mr. Marshall doesn't expect Apple to release a new tablet-type device until March 2010. Many had hoped Apple would introduce its own take on tablet computing this month, but the company didn't have any news on that front.
Mr. Marshall is rating Apple as "Buy," with a $210 target price. Apple is currently trading at $171.75, up 0.61 (0.36%).