Yared: Apple Inc. to surpass IBM market cap before end of Q1 08; $225 price target on AAPL
Monday, October 08, 2007 - 12:00 PM EDT "Apple Inc (AAPL) has had an incredible run throughout 2007," Georges Yared writes for BloggingStocks."The shares closed Friday at a new 52 week high of $161.45 and the company will announce its September 30th fiscal 4th quarter results on October 22nd," Yared writes.
"Fiscal year September 30, 2008 consensus calls for revenues of $29.7 billion and earnings per share at $4.48. I believe both numbers are going higher as Apple is in the midst of a major product upgrade cycle with the iPod and the Mac, and of course, the iPhone is just getting started," Yared writes.
"My price target is $200 and I am prepared to move it to $225," Yared writes. "I wrote a few months back that Apple will surpass IBM (IBM)in market valuation. Currently Apple is at a market capitalization of $140 billion and IBM is at $158 billion. Apple will surpass IBM before the first quarter of 2008 is in the books, if not sooner."
Full article here.
MacDailyNews Note: Apple's market value currently stands at $142.46 billion, $17.48 billion less than IBM's $159.94 billion.

Why Apple will keep pummeling forward:
- Zune won't make a dent (only steal share away from it's "parnters")
- Amazon.com music sales will do little to sway current users of iTunes - which is most everyone.
- iPhone will keep gaining momentum (SDK forthcoming)
- Mac sales (will continue at a 30%+ YoY growth rate)
- AppleTV will soon get a boost with HD content and another major studio onboard.