Needham & Co bets on strong sales of Macs and iPhones; raises AAPL target price to $ 280

Needham & Co bets on strong sales of Macs and iPhones; raises AAPL target price to $ 280

In a note sent this morning to his customers, analyst Charlie Wolf, of Needham & Company, raised the target price of Apple's shares (currently classified as “Buy”) from $ 235 to $ 280, stating that he sees great potential in sales Macs and iPhones. In addition, he predicts very good things related to the iPad.

Wolf was quite bold in his forecasts, already thinking about the evolution of Apple's business for the next nine (!) Years. According to him, sales of Macs could grow from 9.5 million units this year to 24.9 million in 2019, while iPhones will go from 37.2 million to 142.5 million stimulated mainly by the arrival of a CDMA version, compatible with Verizon Wireless network.

Regarding the iPad, Wolf estimates a total of 2 million tablets sold in 2010, which could reach 19.8 million in 2019. On the other hand, he predicts that iPod sales will continue to fall, going from 53.2 million to 35.5 million in the same period.

At the time of publishing this post, AAPL was up 0.57%, quoted at $ 199.80.

(via AppleInsider)