Apple Price Target Update

11Feb12

Apple has been described as many things, and there are always wide ranging opinions about this company and where its stock price is headed. One of the best descriptions I’ve ever heard was very simple; It’s an extraordinary company at an ordinary stock price. Sloy, Dahl & Holst, Inc. has gone on record time and time again, that we believe this stock is headed higher. That’s still our stance today, even after the significant run we’ve watched over the last month. Currently selling at nearly seven times 2013 earnings, we believe Apple stock still has a significant room for growth. Our price target for year-end is now $575, and we believe that may even be modest. This company is sitting on nearly $100 billion in cash, and is in perfect position for two huge share price moving events; The announcement of a dividend, and the introduction of the Apple TV. Both of which we believe will happen this year. We own Apple, our clients own Apple, and we are still taking positions at these levels. Any temporary pullbacks in this stock should be an automatic buy trigger for investors today.

Ron Sloy
Sloy, Dahl & Holst