Needham analyst Charlie Wolf has increased his price target on Buy-rated Apple from US$235 to $280, saying that that Mac and iPhone sales are significantly higher than when he made his last attempt to value the company back in September. He’s also expecting good things about the upcoming iPad.
As reported by Barron’s (http://blogs.barrons.com/techtraderdaily/2010/02/12/apple-needham-ups-target-on-strong-iphone-mac-sales-the-path-to-25-smart-phone-market-share/?mod=yahoobarrons), Wolf thinks Mac shipments will grow from 9.5 million units this year to 24.9 million in 2019. He predicts iPhone shipments will grow from 37.2 million this year to 142.5 million in 2019.
When it comes to the iPad, Wolf sees sales of two million in 2010 growing to annual sals of 19.8 million in 2019. On the other hand, he expects iPod sales to fall to fall from 53.2 million this year to 35.5 million in 2019.