Apple stock closed on October 9, 2012 at $635. While up $247, or 64%, for the year, the stock price has dropped 70 points, 10%, from the peak of $705 reached on Sept. 21, 2012. Where will it go next? What caused this 10% drop? And what about Amazon, Google, Microsoft, & Research in Motion?
Here’s what I think:
- Apple (AAPL) will announce earnings on October 25, 2012. I expect $46.79 to $48.9 per share on an annualized basis, up 10 to 15% from the current $42.54 per share.
- Apple’s share price will increase back to $700, and then to $750 by year-end, 2012.
- Amazon (AMZN), Google (GOOG) and Microsoft (MSFT) will be stable thru to year-end, 2012.
- Research In Motion (RIMM) will be acquired by June 2013.