Apple Hits $500: Here's Why It's Still a Buy
In the following video, Motley Fool senior technology analyst Eric Bleeker breaks down why Apple is still a compelling buy at $500. Eric lays out the company's 2013 revenues and shows that how with just a few key opportunities like business spending, growth already seen last quarter, and Apple TV, the company is already on target to hit expectations that'd put it at just over 10 times 2013 earnings. Then if you throw in other outsized opportunities like international smartphone sales, Apple still has ample room to exceed its expected 69% growth rate between fiscal 2011 and 2013.
Apple's become a monster of a company, but if you're wondering just how big can it can get, there's plenty of opportunity still in front of it.
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At the time this article was published Eric Bleeker owns shares of Cisco. The Motley Fool owns shares of Microsoft, Google, and Qualcomm. Motley Fool newsletter services have recommended buying shares of Microsoft and Google and creating a bull call spread position in Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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