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.
Samsung, the Japanese conglomerate best known to Americans for its televisions and cellphones, is jumping into the American solar business.
Pacific Gas and Electric, the California utility serving much of the northern and central parts of the state, asked regulators last week to approve a series of 25-year contracts [pdf] for 130 megawatts’ worth of photovoltaic power plants to be built by Solar Project Solutions, a joint venture between Samsung America and ENCO Utility Services, a former subsidiary of the utility company Edison International.
Samsung’s first commercial solar plant in South Korea. Photo via Green Inc. blog at NYTimes.com
The deal is the latest of a spate of such agreements signed by California utilities as they take advantage of the increasing attractiveness of photovoltaic power as the price of solar modules falls and new competitors enter the market.
Unlike large solar thermal power plants that use mirrors to heat liquids to generate steam to run electricity-generating turbines, photovoltaic farms can be built relatively quickly near cities and existing transmission lines.
Mr. Woody’s point about photovoltaic systems is well-taken: here’s another photovoltaic application, the Marine Corps’ recently announced GREENS system:
A year ago, U.S. Marines operating in the Arabian Desert only viewed the sun as the source of the region’s relentless heat. Recently, the Office of Naval Research (ONR) Advanced Power Generation Future Naval Capabilities program introduced technology that allows the Marines to harness some of that sunshine to help power their field equipment.
Fueled by the sun, the Ground Renewable Expeditionary ENergy System (GREENS) is a 300-watt, photovoltaic/battery system that provides continuous power to Marines in the field. ONR began exploring the GREENS idea in fall 2008 in response to a Marine Corps requirement from Iraq for an expeditionary renewable power system.
“It’s vitally important to have power in the battlefield especially these days in an irregular warfare environment,” said Marine Col. Thomas Williams, a senior officer at ONR.
