Less than two months after cracking the $400 barrier, Apple’s (NASDAQ:AAPL) stock has set another milestone. The stock opened today at the $600 mark, before settling to around $588 at the time of this writing.
This all comes after Steve Wozniak spoke with CNBC two weeks ago about the projections for Apple’s future. When asked about Apple’s success:[quote]”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.”[/quote]
He’s not the only one that thinks so. Morgan Stanley is projecting a new price target of $720, and says it could even approach $960 next year in a bullish market. Woz, while admittedly “not a stock guy”, feels that a $1,000 stock price isn’t out of the question.
All of this just makes me envious for those that hopped on the Apple wagon back in the 90s. Enjoy your early retirement.
Update: Just to rub it in further, Zero Hedge reports that Apple is now bigger than the entire US Retail sector.