Apple target price raised at Goldman Sachs

Apple reached an all time high, the stock price that is, the company itself is yet to reach a pinnacle (personal opinion that), but closed down. That all time high price is 427.75 Dollars. The ten year history of this company is phenomenal. The stock price is up 3460 percent over that time. The current valuation is a little over 15 times earnings.

In Apple's 2002 Annual report they said the following: "Since inception of its retail initiative in 2001, the Company has opened 51 retail stores in the United States. The Company has located its stores at quality high traffic locations in shopping malls and urban shopping districts. Before the end of the first quarter of 2003, the Company estimates that over 30% of the U.S. population will live within 15 miles of one of its stores. In addition to its own hardware and software products, the Company's retail stores carry in inventory a variety of third-party hardware and software products.

One of the main goals of the retail initiative is to bring new customers to the Company and expand its installed base through sales to both first time computer buyers and those switching from other computing platforms. By operating its own stores, the Company is able to better control the customer retail experience. The stores are designed to enhance the presentation and marketing of personal computing"

And I swear to you, when you walk into one of these many accessible stores all over the world now, they are full of people who really want the product. Howie (my mate) even told me that he saw a government Minister (not to mention member of the extreme left) in an Apple iStore. Yes, the allure of the Apple product is too much even for committed socialists. I should have left that part out, I did ask Howie if he was sure, and he said yes, it was indeed the minister. I am not sure if revealing his or her identity at a specific location could land me in hot water, so I left that all out. Talk about paranoia. That aside my simple view on how Apple managed the second and third sales progression that has led to super returns for shareholders, is part ingenuity (ok almost all) and part timing.

The iPod revolutionized (excuse the pun) the way we listen to music, but the iPhone and iPad saw sales at Apple grow 4.4 times between 2007 and 2010, and net income grow a whopping 7.4 times over the same period. Wow, phase three I guess is what I call it. I got an iPod in 2006. It looks so very old school now, still works *nicely* though. iPod unit sales fell 15 percent in the 2011 financial year, you can tell that the iPod as we knew it might go out of fashion faster than the walkman.

iPhone unit sales surged 81 percent to nearly 72.3 million. Like Byron said, why does he need an iPod when his phone performs that function already? iPad sales took off, nearly 32.4 million were sold last year. Apple TV, perhaps that is the next big thing, the app store, more business users of their products, a cheaper iPhone, I can't see that happening. Goldman Sachs, for what it is worth, upped their 12 month target price of Apple to 550 Dollars a share. And the analyst in question (high profile and great name) Bill Shope said that the December quarter could have seen as many as 31 million iPhone units sold. Bill (Note) Shope (iStore) sees the expensive Mac to continue to sell like a hot cake. Looking for more info, then check out the results of Google search on goldman sachs apple. We are happy buyers too.