Steve Wozniak Believes Apple Shares Will Hit $1000

News
By Jane McEntegart
published

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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Jane McEntegart
52 Comments Comment from the forums
  • xerroz
    The fad of the iPhone will run out eventually so I doubt it.
    Reply
  • hotroderx
    The saying Candle Burns Brightest before it Burns out comes to mind with apple.
    Reply
  • egidem
    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.
    Reply
  • 1000 bucks is a little far fetch but i wouldn't be surprised if it did it. All the apple haters out here keep bashing and bashing but no one, I mean absolutely no one has a product to compete with them. Products they dish out keep getting better and better and all the other companies are playing catch up. What may me believe is when I bought my wife (who has absolutely no computer skills whatsoever) an IPAD, handed it too her, and she started using it right away and hasn't ask me for help one time. Now I'm a believer. Until other companies can produce a product like that their just pissing in the wind. Period.
    Reply
  • izmanq
    No way it's going to reach 1000 usd, time to sell apple stocks :D
    Reply
  • @xerroz @hotroderx @egidem guess you don't have AAPL shares.
    Reply
  • freggo
    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.
    Reply
  • eklipz330
    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
    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.
    Reply
  • azathoth
    "I actually believe that and I don't really follow stock markets,"

    /End
    Reply
  • Marcus52
    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.

    ;)
    Reply