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Steve Wozniak Believes Apple Shares Will Hit $1000

By - Source: CNBC | B 52 comments

Wonder how long that will take?

Early in February, Apple shares surged to an all-time high. Passing the $490 mark, this jump meant Apple was now worth more than Google and Microsoft combined. Since then, shares have continued to creep upwards and, with the iPad 3 launch just around the corner, things are looking pretty good for Apple. Indeed, earlier this week, Apple's market cap reached a value of half a trillion dollars. However, this has led some analysts to question whether or not Apple can maintain such a high market cap. One man who seems to have no trouble believing Apple can do it is Steve Wozniak.

Speaking to CNBC, co-founder of Apple Steve Wozniak said that he believes that not only will Apple continue to increase in value, but shares will eventually hit $1000. His reasoning is that Apple is actually several very strong companies rolled into one. Wozniak highlighted the Apple retail store, the iPhone, the iPad, iTunes, and the Mac division as examples of companies within Apple.

"You know, people talk about $1,000 stock price... you know, at first you want to doubt it but I actually believe that and I don't really follow stock markets," Wozniak told CNBC, later adding, "Apple is on such a winning course because it's encapsulated all of its different big products that I mentioned, they all work together so well that you are in a course that if you buy a product from another company it doesn't really do as much as one from Apple does. So Apple has a large room for growth."

Apple is set to announce the iPad 3 next Wednesday. Rumors have also pointed to a MacBook Pro and MacBook Air refresh in April. The company usually refreshes the iPhone in June (though last year's iPhone 4S didn't arrive until the fall), and the iPod line traditionally gets some attention in September.

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Top Comments
  • 23 Hide
    xerroz , March 3, 2012 3:09 PM
    The fad of the iPhone will run out eventually so I doubt it.
  • 23 Hide
    egidem , March 3, 2012 3:27 PM
    I believe that there's an English idiom that says "The bigger they are, the harder they fall."

    Apple is ridiculously large right now, and when it falls (nothing stays on top forever), it will fall ridiculously hard.
  • 21 Hide
    hotroderx , March 3, 2012 3:13 PM
    The saying Candle Burns Brightest before it Burns out comes to mind with apple.
Other Comments
  • 23 Hide
    xerroz , March 3, 2012 3:09 PM
    The fad of the iPhone will run out eventually so I doubt it.
  • 21 Hide
    hotroderx , March 3, 2012 3:13 PM
    The saying Candle Burns Brightest before it Burns out comes to mind with apple.
  • 23 Hide
    egidem , March 3, 2012 3:27 PM
    I believe that there's an English idiom that says "The bigger they are, the harder they fall."

    Apple is ridiculously large right now, and when it falls (nothing stays on top forever), it will fall ridiculously hard.
  • 11 Hide
    izmanq , March 3, 2012 3:39 PM
    No way it's going to reach 1000 usd, time to sell apple stocks :D 
  • 0 Hide
    Anonymous , March 3, 2012 3:39 PM
    @xerroz @hotroderx @egidem guess you don't have AAPL shares.
  • 15 Hide
    freggo , March 3, 2012 3:52 PM
    Could be that the players at Wall Street blow it up to 1k and than cash out; leaving Mom and Pop investors in the cold.
    It is ridiculous that a company that does not actually manufacture anything and does not hold a leading position in any key market (except for patent law suits) should be 'valued' at 500.000.000.000.000.000.000......etc.

    Yeah, we had condos and houses down here in Florida that where 'valued' quite high too; until the market crashed.
  • -9 Hide
    eklipz330 , March 3, 2012 4:09 PM
    freggoCould be that the players at Wall Street blow it up to 1k and than cash out; leaving Mom and Pop investors in the cold.It is ridiculous that a company that does not actually manufacture anything and does not hold a leading position in any key market (except for patent law suits) should be 'valued' at 500.000.000.000.000.000.000......etc.Yeah, we had condos and houses down here in Florida that where 'valued' quite high too; until the market crashed.
    apple hater is delusional... they lead phone sales whether you like it or not, mp3 player sales whether you like it or not, music sales whether you like it or not, and tablet sales whether you like it or not.

    android might sell more than iOS, but no one phone sells more then any iteration of the iphone[i'm not combining the different versions]

    no, i'm not an apple fanboy, i dont own any apple products, nor do i want to. but to be this delusional can't be good for you. they are a well rounded company and deserve their earnings because they're the best business men. the more haters you got, the more successful you probably are. they're scum, but which business isn't nowadays; every business would wanna thrive like them.
  • 15 Hide
    azathoth , March 3, 2012 4:19 PM
    "I actually believe that and I don't really follow stock markets,"

    /End
  • 9 Hide
    Marcus52 , March 3, 2012 4:25 PM
    I find it rather odd that Apple's share price as gone so high; why would Apple be worth more than Microsoft and Google? I suggest this has more to do with stock market investor beliefs than anything tangible. It points to the reason we should not tie our sense of self-worth to the stock market.

    Is the business itself actually worth more because people are willing to pay more for its stock shares? No business is actually worth more or less; it has the same physical structure, the same work force, and the same rate of sales and profit margin, regardless of share value.

    That being said, Apple has done some very good business, and despite my thinking that the iPhone would soon enough become a second-rate device, Apple had been updating it regularly. Apple has not ignored improvements in other devices, either, and the fact that Apple adopted Thunderbolt before the PC industry did is a feather in Apple's cap. Word is the next Macbook refresh will include screens that are 2880x1800 in resolution and dimension (being 16:10 as opposed to the terrible 16:9 most notebooks these days have), which will put them far, far ahead of any current PC notebook display - and in ways ahead of any monitor available at any price for the computer.

    I'm certainly no Apple fan; I didn't care for Job's salesmanship, didn't believe his message, which I thought lacked integrity (though I think he believed it himself, and in believing it, convinced many of it's "truth"). However, Apple has stepped up its game, and a 2880x1800 notebook will get me excited about an Apple product, something that hasn't happened for me since the Lisa.

    The sad thing for me will be I'm unlikely to be able to afford such a Macbook - just as I couldn't afford the Lisa when it was available. That, of course, is not Apple's fault at all, but mine.

    Regardless, when a heavy PC and Windows user talks about buying an Apple product (something I actually at one time swore I'd never do), who still very much likes his PC and thinks it's the best computer option available and isn't expressing emotional dissatisfaction, you know they have something going on.

    ;) 
  • 8 Hide
    sykozis , March 3, 2012 4:26 PM
    hhanderhh@xerroz @hotroderx @egidem guess you don't have AAPL shares.

    Owning Apple stock, really means little in the grand scheme of things. Fact is, Apple will eventually crash. As eklipz330 stated, Apple leads in all markets they've entered except mobile OS and desktop/laptop markets.

    No, Apple will never outsell Android in the mobile market or Windows in the desktop/laptop market, but they don't have to either. Their core business isn't operating systems or desktop/laptop computers. Regardless of price, people flock to the iPhone and iPod like sheep.

    Apple has done a very good job at proving that product fragmentation is bad for marketing. Android tablets could be as successful as the iPads, but it lacks a well defined user experience. iOS on the iPhone, iPad and iPod is very smooth. Not sure about all tablets, but my Android 2.2 tablet is a nightmare to use. It makes my WP7 HTC Trophy feel like a supercomputer by comparison. As much as I hate how restricted iOS is...Apple knows how to sell a well defined, very fluid user experience.....

    Sure, for the time being Apple's stock with continue to grow, but eventually it will in fact crash. No company stays on top forever. Even Intel will eventually fall as well.
  • 13 Hide
    bit_user , March 3, 2012 5:18 PM
    Uh oh. They're trotting out people to pump the stock. Looks like it's time to get out!
  • 11 Hide
    tanjo , March 3, 2012 5:38 PM
    1k? Wishful thinking. Apple is running out of companies to buy to fuel their new "innovations".
  • 8 Hide
    SmileyTPB1 , March 3, 2012 5:53 PM
    If I believe that monkey will fly out of my butt will that make it happen?
  • 3 Hide
    shin0bi272 , March 3, 2012 6:01 PM
    If you look at apple's chart from 1985 - present you will see what is known as a spike. From 1985 till 2005 it was below 15 dollars. Then when he announced the iPhone the sales took off. Now we have the ipad and iphone and ipod touch and the stock just keeps going. Unfortunately though with the death of Jobs their visionary we will see a peak pretty soon. Sure the stock will go up and it may very well hit 1000/sh but it wont stay there very long. Why? Because we will no longer be seeing anything revolutionary coming out of apple once Jobs' supposed legacy of planned updates expires they will fall back into their niche market. Add to that the fact that as soon as apple comes out with a revolutionary product update like the iPhone all the other companies come out with a competing product. Now remove the revolutionary product changes and who's going to be waiting in line for 3 months for the iPad 6s that's exactly like the iPad 5 but it weighs half an ounce less?
  • -8 Hide
    ap3x , March 3, 2012 6:13 PM
    xerrozThe fad of the iPhone will run out eventually so I doubt it.

    I wouldn't hold my breath on that if I where you.
  • 6 Hide
    flamethrower205 , March 3, 2012 6:14 PM
    "...I don't really follow stock markets"
    Woz, you sound like an idiot. I love when people spew sh*te out of their ass without knowing the intricacies.
  • -6 Hide
    ap3x , March 3, 2012 6:19 PM
    freggoCould be that the players at Wall Street blow it up to 1k and than cash out; leaving Mom and Pop investors in the cold.It is ridiculous that a company that does not actually manufacture anything and does not hold a leading position in any key market (except for patent law suits) should be 'valued' at 500.000.000.000.000.000.000......etc.Yeah, we had condos and houses down here in Florida that where 'valued' quite high too; until the market crashed.


    Apple does not hold a leadership position in any key market? What planet are you from again? There is not a single Phone, Tablet, or Music player out there that is outselling the iPhone, iPad, or iPod. Does not matter if you like it or not, it is fact.
  • 7 Hide
    esrever , March 3, 2012 6:27 PM
    No we just wait till the next "cool" thing to come to the market. Apple will go the way of Sony sooner or later if they are lucky.
  • 2 Hide
    stevo777 , March 3, 2012 6:59 PM
    Doesn't follow the stock market? There's no way he doesn't own a ton of Apple stocks and have a vested interest in trying to pump it's value up by cheerleading. He would probably be prepared to sell off a bunch if it hit 1k and take the money and run.

    Apple still has a little momentum going from the latest Steve Jobs era and his handy work is still coming off the production line, but that time will be fleeting and ending soon. When they run out of products that he had a proverbial hand in approving, the company will not be nearly as successful, just as it was before he came back. Anyone who does know anything about the market will know that the shorters will show up in force and manipulate a mass sell off of the stock, causing a huge price drop.

    As john_4 says, it would have been great to have invested a while ago, but there is still money to be made by timing the demise and shorting the stock at the right moment.
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