Analyst predicts Apple stock split for February
Posted by Dr. Macentein
Piper Jaffray analyst Gene Munster reiterated his “outperform� rating on Apple’s stock Friday, and set a new target price of $103 (up from $83).
Munster further went on to say that Apple was likely to offer yet another 2-for-1 stock split this February, almost exactly a year to the day after its last split.
“While not necessarily a catalyst for Apple’s business, we do believe another stock split will be a mild positive for Apple shares,” said Munster. The analyst believes Apples earnings will grow over 35% in 2006. Spurred by good news coming out of last week’s Macworld, Munster cited strong Mac and iPod sales, in addition to a likely branching out by Apple into related tech devices (such as home media centers and mobile devices such as cellular phones) as justification for his rather bullish prediction.
