Apple’s iPAD hardware sales alone have totalled over $600 Million in a little over a month not to mention the revenue already being generated from music, movie and book downloads to the iPAD from iTUNES. Analysts expect iPAD sales to reach in excess of 10 million between now and the end of 2011 adding almost $5.9 Billion to the companies bottom line.
Senior Portfolio Manager Steve Sherwood is extremely bullish on Apple which is his firm’s current Major stock pick.
Mr Sherwood says “Apple Computer has been one of our firms most regular BUYS over the past 5 years. The company has no debt, mountains of cash in the bank and continues to amaze with the release of some of the most exciting products of the past decade, We expect to see a price of $320-$350 in the medium term, this is very exciting”
Each of Apple Computer’s major product launches has been accompanied by a substantial increase in stock price over the subsequent months and the release of the iPAD should certainly be no exception.
Bristol Offshore is an offshore brokerage firm servicing both retail, corporate and institutional clients. All clients have access to an advanced online trading platform accessible through laptop or smartphone.
